I agree with you, Snakeye.
The market hardly ever prices companies on fundamentals, it is more on 'fear and greed', BUT as individuals, I think it is important to use fundamentals as a starting point and momentum trading (TA) to seek entry.
I bought in again at 45 cents, not much, but enough to keep tabs on the company, and I will keep buying at these levels and below because the fundamentals suggest that this is a buy.
If the fundamentals change, I will dump and take a loss... but with MGX having cash, no dept, port and rail facilities and access to ore, which they dig up and sell at a profit, I cannot see this fail.
Buying MGX is saving for my future. I do not expect an overnight recovery, but the macro environment will change, and that is when I will cash in.
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I agree with you, Snakeye. The market hardly ever prices...
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Last
30.5¢ |
Change
0.010(3.39%) |
Mkt cap ! $371.5M |
Open | High | Low | Value | Volume |
30.0¢ | 30.5¢ | 29.0¢ | $464.0K | 1.540M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 115351 | 30.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
31.0¢ | 320208 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 25000 | 0.305 |
3 | 120521 | 0.300 |
4 | 52500 | 0.295 |
7 | 88034 | 0.290 |
3 | 91000 | 0.285 |
Price($) | Vol. | No. |
---|---|---|
0.305 | 23000 | 1 |
0.310 | 228274 | 4 |
0.315 | 49000 | 2 |
0.320 | 307050 | 4 |
0.325 | 155300 | 5 |
Last trade - 16.10pm 16/09/2024 (20 minute delay) ? |
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MGX (ASX) Chart |