I think most of you are missing the fact that while it is cheap, this is simply NOT a buffett/graham investment. A mine depletes (MGX more so than others). The strip ratio increases and there is literally no more ore in a few short years!
MGX really have to let the market know where it is going in the future and what its going to buy? While AU sector might be expensive, I think buying something that they can capitalise on Geraldton allocation is key. If they go and buy something in Africa (no matter how good it looks) - I would suggest they are seriously taking the wrong approach but what do I know....
Ann: Change of Director's Interest Notice , page-22
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Last
42.8¢ |
Change
-0.013(2.84%) |
Mkt cap ! $526.9M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 44.0¢ | 42.5¢ | $831.8K | 1.927M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 90883 | 42.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 59828 | 26 |
View Market Depth
| Last trade - 15.01pm 10/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |