What a pathetic week for the company. Actually goes for the last 3months. Worst performance of the iron ore companies.
Something is not right and it will be revealed in their quarterly. Look at the volume of shares traded. Some entities want OUT even though iron ore is at yearly highs.
Either production is down OR costs have increased again. Maybe another minor sea wall collapse which we don’t know about.
The SP action is telling us that this company is not performing to its potential.
The stock market is about patience but I feel this company can drive oneself crazy. Commodity price up and company allegedly states that it is making a substantial amount of free cash flow. But here is the kicker the SP goes backwards. Wtf!!
All will be revealed in the quarterly. But is it best to get out now before the bad news arrives.
MGX Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
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