This is MGT's first project. Of course any company in their first project doesn't have any cashflow yet.
However even the big mining companies, they use debts and not their cashflows to fund their projects.
Hematite reserves are depleting fast and their grades are slowly degrading.
Magnetite will replace Hematite as the main iron source.
It will dominate the iron ore market as it is the natural progression.
MAGNETITE IS PROFITABLE
About 1/3 of steel production is made from Magnetite.
The process to produce the concentrate is also not expensive.
https://unauthorised investment advice/resources/busting-the-myth-that-magnetite-cant-be-profitable/
Ann: Change of Chief Financial Officer and Company Secretary Role, page-83
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Last
30.0¢ |
Change
-0.005(1.64%) |
Mkt cap ! $29.53M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 30.5¢ | 29.5¢ | $34.05K | 113.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19957 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 67224 | 2 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| MGT (ASX) Chart |