MGX is only undervalued if mine life goes beyond 30Jun26 and that is yet to be confirmed unfortunately or if the iron ore price increases from here - if they start paying out unfranked dividends on which some shareholders might have to pay up to 47% tax(highest individual marginal tax rate including medicare levy) then those shareholders have got little chance of getting back their current 40c capital cost if there's no increase in mine life after 30Jun26.
Buying back shares would be a better option than unfranked dividends for most retail shareholders as long as there's a pay day for them at the end of the road - and here you might have to trust the controlling shareholder in Hong Kong to do the right thing for minority shareholders.
MGX Price at posting:
40.0¢ Sentiment: None Disclosure: Held
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