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.....
It's not the result, it's the guidance. As Zereal pointed...
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Last
27.5¢ |
Change
0.005(1.85%) |
Mkt cap ! $324.3M | |||
| Open | High | Low | Value | Volume |
| 27.5¢ | 28.0¢ | 27.3¢ | $168.9K | 608.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 120618 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 58096 | 2 |
View Market Depth
| Last trade - 16.10pm 01/07/2025 (20 minute delay) ? |
| MGX (ASX) Chart |