Boofy, you hit the nail on the head. IMO the main thing holding back MGX is the lack of a proven "long life" resource.
Very roughly, MGX has only about 7 years of proven known resources at the current rate of mining. However, MGX is actively seeking to expand this. If successful and MGX can prove up more DSO quality ore then we can see the SP shoot up.
However, the cost of exploration is high and that's why the dividend is low. They need to conserve cash to fund their expansion plans. If the price of fe stays where it is then everything should be okay.
IMO MGX is still a good bet, all they need is more fe deposits. All the infrastructure like rail and port facilities which are very very important are already in place. All the ore in the world is not good if you cannot ship the bugger.
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Boofy, you hit the nail on the head. IMO the main thing holding...
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35.0¢ |
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Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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36.0¢ | 152088 | 2 |
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No. | Vol. | Price($) |
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8 | 179434 | 0.350 |
4 | 262901 | 0.345 |
10 | 153068 | 0.340 |
3 | 87458 | 0.335 |
4 | 71052 | 0.330 |
Price($) | Vol. | No. |
---|---|---|
0.360 | 2088 | 1 |
0.365 | 59000 | 2 |
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