It's not the result, it's the guidance. As Zereal pointed pointed out the cost increase is very substantial. Costs in the June 22 Qtr were $77 wmt with a strip ratio of 5.6:1.
MGX is forecasting the strip ratio to decline to 2:1 in FY23 yet the costs stay at $70-75.
This is clearly why they had to impair the value of Koolan Island by $150m despit increasing the iron ore price assumptions and lowering the AUD/USD forecast (both of which would benefit the value/NPV of Koolan Island).
This company sure knows how to dissapoint.
Still sitting on the sidelines of this one.....
Ann: Financial Results for 2021/22 Financial Year, page-8
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Last
27.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $318.4M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.5¢ | 26.8¢ | $319.4K | 1.181M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 84267 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 245839 | 8 |
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| Last trade - 16.10pm 03/07/2025 (20 minute delay) ? |
| MGX (ASX) Chart |