Thank you for your analysis miningnut.
A cash balance of $397m as at 31 Dec would I think amount to approximately 33 cents per share - and as I understand their tax situation, there will be little or no income tax to pay on net earnings this calendar year.
In the past I've made a bit on money on MGX, but it's been more by luck than design. I only have a smallish holding now (bought in last couple of months) as I find it difficult to value this share. Resource life, lack of imputation credits until 2nd quarter of 2024/25 and a lack of alignment of interests on the part of the major shareholders v. small shareholders etc etc.
My guess is any bounce in the share price will probably be a result of some headline about earnings or guidance (if they give any) or cash holdings etc. If it happens, I'm thinking a prudent holder should probably consider taking any profit they're sitting on - rather than wait for distributions. .
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Last
32.0¢ |
Change
-0.010(3.03%) |
Mkt cap ! $389.5M |
Open | High | Low | Value | Volume |
33.5¢ | 33.5¢ | 32.0¢ | $421.9K | 1.301M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 204993 | 32.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
32.5¢ | 8744 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 187999 | 0.320 |
6 | 296000 | 0.315 |
7 | 469680 | 0.310 |
6 | 194416 | 0.305 |
8 | 146399 | 0.300 |
Price($) | Vol. | No. |
---|---|---|
0.335 | 271800 | 5 |
0.340 | 464039 | 15 |
0.345 | 219805 | 7 |
0.350 | 132520 | 7 |
0.355 | 137345 | 4 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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