Buy Back, page-3

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Samsonrises

673 Posts.

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11/01/24

19:08

Post #: 71838319
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Originally posted by Billybunt: ↑

This reminds me so much of FMG just a few short years ago... (around 2018????)
FMG was printing money, about $1b per month and the price was around $4. (The now ex-wife made me sell at $4.50....)
It was well undervalued, and Twiggy decided on a $500m buy back. It's what started the rocket, now look at them.

Unless they need the capital expenditure elsewhere for whatever they acquire, this would send a clear message to the market. I'd be looking to announce a buy back at the same time they announce the next dividend and let the buyback self-fund itself. I'm patient, so I'm thinking in the next 12-18 months. Thoughts?

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MGX has noted to be on acquisition trail with free cashflow generating around $35 million a month.

Only a matter of time till Mr Market wakes up to this undervalued stock - no debt and generating huge cash surplus.

Next 12 months if no dividend is given and no joy on a potential acquisition will have close to 1 billion in the bank - not bad for a small mining company.

Also MGX has part ownership in Fenix and generates dividends from this company as well. Also hold 3 satellite investments and potentially further mining in Koolan.

All looking good especially now the bias towards interest rate reduction is a bonus for the equity market and MGX.

Last edited by Samsonrises: 11/01/24

MGX Price at posting: 54.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

2 Great analysis

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