Ann: High Grade Ore Sales Commenced from Koolan Island, page-127

AGO up-ramping what? AGO is anyway profitable to me as its bidding war unfolded.

Surely making no profit and paying no tax is bad as precious time is wasted. Although in the case of MGX, I believe many patient shareholders have been realizing a significant profit if their holding were built before early this year. And they have entered a higher tax bracket, if not the top.

I know IO price is volatile as I monitor Dalian and SGX IO prices daily. But my judgment is that IO will remain elevated and MGX is highly profitable to support the SP around $1.2 as long as IO price is higher than 70USD. And the capital return in the next financial year can possibly have a strong effect on the SP. The level of capital return in MGX is still much less than FMG, BHP, and RIO so far as no special dividend or buy back announced.

To me, a better solution will be to take profit in the next FY.