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/
This is MGT's first project. Of course any company in their...
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Last
39.5¢ |
Change
0.025(6.76%) |
Mkt cap ! $38.88M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 39.5¢ | 36.5¢ | $217.0K | 562.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 78098 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 7499 | 1 |
View Market Depth
| Last trade - 16.10pm 15/05/2024 (20 minute delay) ? |
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Last
39.5¢ |
Change
0.025 ( 6.76 %) |
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| Open | High | Low | Volume | ||
| 36.5¢ | 39.5¢ | 36.5¢ | 47176 | ||
| Last updated 15.16pm 15/05/2024 ? | |||||
| MGT (ASX) Chart |