General Discussion and Valuations, page-5

I cannot understand how a valuation of $3.28 can be determined for MGX as it has never reached this price.Nor do I understand its present price having regard to what the price of IO was when it was last trading at 48c.It was US$65 a tonne being in October 2018.If you trace the share price since 2018 until now to the price of IO over the same period there is a disconnect.From October 2018 until October 2020 the highest price for IO was US$125.The share price has varied between 6oc to $1.00 in the same period.Factor in that for the past 12 months or so production has been curtailed at Koolan and with that due to end in three months one would normally expect the share price to start a re-rate upwards.I appreciate the price of IO has dropped by US$100 a tonne ,but it still is long way off $US 65 a tonne and if it was US$ 65 a tonne from recent history you would correlate a share price Plus 60c.So the question becomes why the low share price?Market manipulation by the major shareholder?Short sellers?Better IO shares to get a return from?Investor disaaproval of current BOD and its mean div policy and failure to account for the cash by way of investment,return to shareholders? All of the above and anything more one can think off.