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
43.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $528.4M |
Open | High | Low | Value | Volume |
43.5¢ | 44.5¢ | 43.5¢ | $152.8K | 347.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 63758 | 43.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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44.0¢ | 2336 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 53758 | 0.435 |
6 | 185242 | 0.430 |
10 | 199434 | 0.425 |
9 | 289831 | 0.420 |
3 | 52410 | 0.415 |
Price($) | Vol. | No. |
---|---|---|
0.440 | 2336 | 1 |
0.445 | 344451 | 6 |
0.450 | 326453 | 6 |
0.455 | 128227 | 6 |
0.460 | 247847 | 6 |
Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
43.8¢ |
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Change
0.000 ( 0.57 %) |
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Open | High | Low | Volume | ||
44.0¢ | 44.5¢ | 43.5¢ | 78365 | ||
Last updated 15.55pm 13/05/2024 ? |
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MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
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