Not sure it's meant to prime shareholders for bad news. 6 months...

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runningbear62

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22/12/21

18:55

Post #: 58469747
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Originally posted by rocket973 ↑

Agreed its lipstick on a pig.
This announcement is to prime shareholders for an absolutely terrible Dec quarter. The statement of only 0.4 Mwmt shipped from Koolan Is for Dec half 2022 means that there are no more ships booked this year as 0.3 Mwmt was shipped in the Sept quarter.
Cash draw will be the same as last quarter, so the cash balance end of Dec $130 million???
I wouldn't get excited about the March 2022 quarter either, the stripping will still continue and sales of 65% grade will be extremely limited. The stripping ratio will gradually improve, it won't be overnight.
MGX really needs to get moving as the cash is disappearing fast.

The iron ore price is rising but with no ships then its a moot point.

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Not sure it's meant to prime shareholders for bad news. 6 months ago they had twice their current hold. Bad news or good it's pretty simple. Dig a hole, put the hole on a boat. Rinse repeat. Winner winner chicken dinner. Merry christmas all. Good times ahead.

MGX Price at posting: 42.5¢ Sentiment: Buy Disclosure: Held
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