It won't be a negative cashflow quarter when viewed from the increase in the cash at bank/invest(excl Fenix) figure as that's projected to increase by around $60mil from $358mil to $418mil but probably $50mil of that increase comes from a decrease in Accounts Receivable balance and other positive working capital movements. Their net operating surplus after capital expenditure was probably only $10mil for the quarter so it's going to take many quarters to use those carry forward tax losses at 31Dec23 of $114mil.
MGX Price at posting:
43.0¢ Sentiment: None Disclosure: Held
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