“The Company and its shareholders have benefitted from the substantial overburden stripping and processing facility investments made at Koolan Island over the last few years, such that the operation is performing well at a time of attractive iron ore prices, with the Company positioned for further cashflow generation.
this is the CEOs comments. How the hell have we benefited. We aren’t seeing any cash. And there is no capital gain either.
Miningbut. Have you been able to work out why the numbers are different to yours. Also they booked in a profit of $38M so if you take that out. It would have only been a profit of $110M. So their margins are shrinking. I think there was a larger finance and capital works cost $51 M which has probably scared some of the big fund managers.
there is no doubt in my mind that one or some larger brokers are liquidating their positions at all costs. They have completed turned off it.
So my dilemma is do I sell out like a sheep here thinking this could go to 40c. For the life of me I don’t know why. Or hold and just watch it slowly descend. At the moment I can not see a turning point.
MGX Price at posting:
47.5¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)