Anyway, MGX has a slightly lower break even point than AGO due to AGO suffering an extra $5 p/wmt in increased freight costs since last quarter, but AGO has over 4 times more total tonne capacity than MGX so stands to make a lot more profit than MGX all up while IO is at a decent price like it is now, obviously the higher the IO price the greater profit AGO will get compare to MGX.
-AGO "Full Cash Costs of A$55/WMT"
-Capacity = 12-16mtpa
-MGX "All-in group cash costs* of $48/wmt"
-Capacity = 3.2-3.5mtpa
All things considered AGO has the greatest chance of a large SP re-rate compared to all other ASX listed IO miners while IO prices hold around this price or increase
AGO Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held