Thank you for your analysis miningnut.
A cash balance of $397m as at 31 Dec would I think amount to approximately 33 cents per share - and as I understand their tax situation, there will be little or no income tax to pay on net earnings this calendar year.
In the past I've made a bit on money on MGX, but it's been more by luck than design. I only have a smallish holding now (bought in last couple of months) as I find it difficult to value this share. Resource life, lack of imputation credits until 2nd quarter of 2024/25 and a lack of alignment of interests on the part of the major shareholders v. small shareholders etc etc.
My guess is any bounce in the share price will probably be a result of some headline about earnings or guidance (if they give any) or cash holdings etc. If it happens, I'm thinking a prudent holder should probably consider taking any profit they're sitting on - rather than wait for distributions. .
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Last
45.0¢ |
Change
-0.005(1.10%) |
Mkt cap ! $546.6M |
Open | High | Low | Value | Volume |
45.5¢ | 45.5¢ | 44.5¢ | $341.5K | 759.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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5 | 195138 | 44.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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45.0¢ | 108443 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 185138 | 0.445 |
11 | 178164 | 0.440 |
8 | 243852 | 0.435 |
12 | 281193 | 0.430 |
9 | 153082 | 0.425 |
Price($) | Vol. | No. |
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0.450 | 108443 | 2 |
0.455 | 128205 | 4 |
0.460 | 364020 | 14 |
0.465 | 199000 | 6 |
0.470 | 357125 | 6 |
Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
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Last
44.8¢ |
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Change
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Open | High | Low | Volume | ||
45.0¢ | 45.3¢ | 44.8¢ | 435061 | ||
Last updated 15.59pm 27/05/2024 ? |
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