Ann: Profit Results for FY2017 and Declaration of Final Dividend, page-12

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tokyo

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17/08/17

10:58

Post #: 26557206
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Originally posted by macssharesforfun ↑

I agree with most of your sentiments Mongrel.

However, when reviewing your figures one must note that $150mil came from insurance payouts for the seawall collapse - so context needs to be considered.

Regardless, there is no doubt that Mgx have been hording cash, however, imo, with the uncertainty over the insurance settlements for KI, and then the large engineering review to establish that KI could actually be rebuilt, and all the while taking into account the collapse of the IO price since the KI seawall failure, i can live with their decisions.

Each investor will have their own view on the companies performance in this regard. For me, i'm happy with the 2c (not a bad 4.6% yield based on the current share price) as long as it continues as a minimum for the next two years at least.

Lets face it - for MGX its all about KI & the premium price for high grade 65-66%fe. Its also all about the markets view on IO which, as we all know, is on the nose at the moment. Investors have bolted for the 'new age wonder' commodities of Lithium, Cobalt, etc. What the market is ignoring is that KI high grade ore body and the at least 10% premium currently being paid for it. As the lower grades are currently getting savagely discounted, i believe that in the not to distant future, the high grade ores will attract an even greater premium - and therein lies the potential beauty of KI and Mgx.

Its why i've continued to hold Mgx. I don't believe we will be squabbling over a 2c divy in 2019/2020 - it will be significantly higher....

GLTAH.

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http://www.mtgibsoniron.com.au/wp-content/uploads/2017/08/Mount-Gibson-QA-16-Aug.mp3

Mac, the CC reconfirms what you stated...KI will the HIGHEST grade producer in Australia and the strong premium makes its very profitable

MGX Price at posting: 44.5¢ Sentiment: Buy Disclosure: Held
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