As has been discussed in previous posts, given past history they will most likely not be commencing dividends until they have absorbed all of their accumulated losses and move into a tax paying position = generating franking credits. Based on current run rate of profitability, they will move into a tax paying position from Q3 FY24, and so Miningnut's comment re an Oct 2024 dividend expectation is the most likely result.
The Chairman's address reiterated their intention "to resume paying dividends going forward and will review dividend capacity, including the expected generation of franking credits, at future interim and full-year periods" which fully supports the analysis and thesis as explored in previous HC posts.
In the meantime, more than happy to see them building cash reserves at the current rates, such that it should not become a future trade-off between paying dividends and making a value accretive acquisition or investment.
MGX Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
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