You want to read the report more closely, cash costs projected ta $75-80/tonne FOB for DSO.
"start throwing off substantial surplus cash"
very difficult when MGX never gets full price on its ore and has such high cash costs at A$75-80/tonne.
Extremely expensive, other companies can produce high grade IO pellets at a premium for almost the same amount but get the entire cost back in the premiums.
Sadly MGX is over-rated and over-priced.
Return to high grade at Koolan Is not back to normal until 2022. Read the report
MGX is losing money (lost $60 million from the cash reserve which was mostly from insurance) and hardly pays out much as a dividend (only $16 million dividend), as the balance is paid out by increasing the number of shares on issue with the DRP. So how many more millions of shares on issue each year?
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