First observation made from the report, the company generated $208m annualised $800m. Each quarter generating at least $100m positive cashflow.
Remaining life of 65% grade is approx 3 years - which equates to approx 12 quarters remaining. So in generating as it stands today $100m per quarter we would expect at least another $1.2 billion in cashflow/bank on top of the $257m already in the bank.
Moving forward once Fenix gets their house in order and any risk eliminated I think MGX can afford to buy them outright.
Junior mines in progression.
More importantly 63% grade of mineral reserve not sure what that will equate in ore reserve maybe half - MGX will be on that island for sometime.
MGX Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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