great management, board=great company, page-17

Jemma,

The market must dislike MGX for some reason.
It's not the lack of growth in the pipeline, they have that.
It's not the vulnerability to lower Fe prices. They have about the best profit margin on the ASX.
It's not a challenging PE ratio. They have one of the lowest forecast PEs of any large cap.
It's not high debt. They have net cash.
It's probably not lack of resources, still plenty of time and opportunity up their sleeves.

So, yes, it must be the board issues. But lets be sensible here, this is a producing company that needs good tight management rather than visionary leadership. I hope they eventually find a CEO with a good eye for opportunities, but in the mean time the COO will do just fine.

I have seen the market do some crazy things to SPs, only to change their minds later. Look at NWH; they went down to 20c during the GFC and have now hit over $4. They are a mining services company. Nothing much changed about the business; it was just market sentiment.