As today's announcement stated . . . it needs to be read in conjunction with announcements over the last 12 months (not just compare numbers).
Those announcements over the last 12 months include such things as . . . 1. a massive stockpile contributing to record breaking 1HFY24 2 massive tax deductable capitalized expenditure being bought forward in line with LOM. 3. Huge movement of material in 1HFY25 due to mine plan change from west to east. 4. Much higher IO price in 1HFY24.
Looking forward the strip ratio is now to average less than 2 to 1 (which translates to more ships) plus the IO price margin for high grade has improved . . . which will contribute to further cash build.
MGX Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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