Hmm ...I note the accelerating rally in iron ore prices.
Based on pricing by Fastmarkets MB, spot surged 5.8 per cent to $US145.01 a tonne on Friday alone!
I notice minnow, Fenix Resources, released its feasibility study last November, predicting annual EBITDA of $16.4 million based on an Australian dollar iron ore price of $111.43 a tonne.
Fenix will produce just 1.25 million tonnes a year from its Iron Ridge project in the Weld Ranges in Western Australia, and only has a 6.5 yr mine life. Yet Fenix Resources has a market capitalisation of $58.98 million.
Buena Vista's worth a hell of a lot more than that, yet MGU is languishing on a market cap of $13.5m.
Oh, and we have Gravelotte in our back pocket besides!
Ann: Acquisition of Buena Vista iron ore project, page-41
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $8.902M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.1¢ | $1.254K | 113.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1836462 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 583210 | 2 |
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| Last trade - 10.04am 03/10/2024 (20 minute delay) ? |
| MGU (ASX) Chart |