Multiply AGO's SP (4.7 cents) by 9 = 42.3 cents, MGX are currently 52 cents.
MGX Market Cap is $564 M and AGO's is $430 M
MGX produce around 4 MT/Y whereas AGO produces 16MT/Y
MGX has $0 debt and $447 M in the bank, whereas AGO has a net debt of $38 M and $80 M in the bank.
AGO are producing 4 times more IO, this is very good in the current environment with the high IO price.
MGX have plenty of cash in the bank, but not much income.
AGO have plenty of resources, with Mt Webber, Corunna downs and McPhee Creek, enough to last 10 Years at 16 to 20 MT/Y.
MGX have Iron Hill, but it has total Mineral Resource of 8.8 MT.
I always thought a JV between these two companies would be beneficial, especially for the Shareholders. However management may not think so due to Synergies involved.
