Today at Noosa, Peter stated that the SP is at cash backing of 38 cents per share (essentially valuing KI as zero), Peter went on to say that it is his aim to improve the SP by improving the value of KI, as well as through acquisitions.
Peter stated today at Noosa of taking main pit down to 150 to 200 metres. Peter added that mining KI is complicated and that in the 17 years that MGX have owned KI that the LOM has never been stated at any more than 5 years.
Peter Kerr stated today guidance of 2.7 to 3 mt for FY25, and that would increase in FY 26 and FY27.
The acquisitions spoke of today were not limited to base metals such as copper, lead and zinc. Peter also stated today they included bulk materials such as iron ore and bauxite.
MGX Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
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