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. .
MGX Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
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