yes nikos but they have a dividend thats been paid out and needs to be cut from that figure.
its quite simple, short mine-life. 6 years left. if it had 20 years for eg the price might be $2 not 24c.
they have a high grade mine that is getting a premium for its ore and they have hedged 45% of their production at $230/t aud. for the next year. they have a half share in the trucking company that trucks their ore to port and they bought a cheap shed to store their ore at port (i believe).
Management has committed to paying out 50-80% of profit to shareholders.
this means you wont have an MGX situation where the company stashes all your cash for management to waste or hord.
eg a 5.25c fully franked half year dividend is 7.5c before tax. 15c a year for 6 years is 90c before tax
1 million shares would be $245,000 today and they will pay you $900,000 over those six years.
assuming if course that they maintain consistent IO prices.
FEX Valuation, page-681
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Last
37.0¢ |
Change
0.010(2.78%) |
Mkt cap ! $257.0M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.8¢ | 36.0¢ | $952.0K | 2.582M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 74237 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 336700 | 3 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| FEX (ASX) Chart |