Well if management do hold true with FY of 1.5mt then we have at least another 1.2mt to ship this financial year. Although iron ore has dropped so too did the aud from 74.4 to 71.2. So if we look at the numbers for the full year at $165usd to aud $230 less cash costs of approx $55 nets approx $175 per tonne in pure operational cashflow. So with 1.2mt remaining for the full financial year, the company should be generating in excess of $210 million in positive cashflow. Take the numbers as noted don't take long before the $450 million is replenished. If we hold management to these shipment would expect next year at least of potential acquisitions as the cash generation will be huge. I stand to be corrected on these numbers.
MGX Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
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