Samluk, you have answered your own question. "if the ore is not selling to the Chinese, then who the buyer will be ? and where their profit is from ?"
This is the major weakness in MGX. They have a huge economic dependency on the Chinese market. Therefore it is imperative that MGX has an independent board with a view to expand it's customer base not only in China but to sell some of it's ore to India, Korea & Japan.
If MGX can operate without a Chinese gun held at it's head or perhaps a smaller gun, the SP will no doubt be much better.
Then there is the issue of proven resources. MGX only has a current mine life of 10 years, they need to prove up more resources.
Samluk, you have answered your own question. "if the ore is not...
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Last
35.0¢ |
Change
-0.015(4.11%) |
Mkt cap ! $426.4M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 36.5¢ | 35.0¢ | $672.5K | 1.902M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 193719 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 152088 | 2 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| MGX (ASX) Chart |