Wow, after reading this quarterly I am not so bullish on MGX as I thought the war chest would increase to circa 1bn and did not expect them to be so down on FY25.
Agree to comments above regarding strip ratio going to 1.8 which will increase costs. Although in the past they have said the strip ration in FY24 will average out a bit higher for the remainder of the operation. Did anyone spot his correction on the call, when he said, "remainder of the life, I mean operation" - a slight glimpse maybe of an extension of life.
MGX will not be materially better off after spending their war chest on getting KI up and running (unless iron ore prices increase and/or the life of mine extends.
So, I would say 2 things will make this stock run:
- KI extension
- acquisition
Good thing is that we are protected to the downside.
The BAU KI operation is not a golden nugget at the moment.
Ann: Quarterly Activities Report, page-23
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32.0¢ |
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Mkt cap ! $389.5M | |||
| Open | High | Low | Value | Volume |
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