ASXBULL, you are correct. I spoke to the company today and it is there intention to hold the contracted sales parties to their obligations, if this fails they will be looking at the spot market however the only uncertainty is the price.
As the company stated during the conversation they have many options in place to help get through this and todays announcement was intended to keep the company fully informed, something we all ask for and rarely receive from many companies on the ASX.
The sell of today was done by a market who fear any uncertainty and this leaves a little doubt on projected earnings for the next quarter and the year but the company believe that going forward all will be back on track.
As they always have done the management of MGX will continue to deliver what is best for the long term good of shareholders.
spot sales, page-2
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Last
33.0¢ |
Change
0.020(6.45%) |
Mkt cap ! $399.0M | |||
| Open | High | Low | Value | Volume |
| 31.5¢ | 33.3¢ | 31.0¢ | $888.3K | 2.768M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 286917 | 32.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 225050 | 8 |
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| Last trade - 14.20pm 27/09/2024 (20 minute delay) ? |
| MGX (ASX) Chart |