MGX is stockpiling Ore because it can't process all production ( re fire ) This enables the production crew to keep busy.
The only downside to this is that Cash will further diminish over the next quarter as Ore continues to build up.
In the March and June quarters the Sales should massively increase and restore the Cash
But always remember Cash is king and it aint good to run it way down.
What if they have another fire or flood ? At this point nothing further can go wrong.
Also I am concerned by China looking for alternate supply and recycling. Australia continued kicking of China to please Uncle Sam is really shooting ourselves in the foot. Thanks Scomo.
MGX is stockpiling Ore because it can't process all production (...
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Last
44.0¢ |
Change
0.005(1.15%) |
Mkt cap ! $534.5M | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 44.5¢ | 43.5¢ | $178.2K | 404.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 240727 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 436449 | 4 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
44.0¢ |
Change
0.005 ( 0.57 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.5¢ | 43.5¢ | 123351 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| MGX (ASX) Chart |