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
27.0¢ |
Change
-0.005(1.82%) |
Mkt cap ! $318.4M | |||
| Open | High | Low | Value | Volume |
| 27.5¢ | 27.5¢ | 26.5¢ | $435.3K | 1.612M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 101824 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 202000 | 4 |
View Market Depth
| Last trade - 16.11pm 02/07/2025 (20 minute delay) ? |
| MGX (ASX) Chart |