The main impediment to a rerate imho is the cloud over what they're going to do with the cash. A large speculative acquisition and I reckon MGX is stuck here in the doldrums.
My preference for upcoming announcement would be: A return to dividend (absolute minimum 2 cents and a commitment to 4c for the year) Solid FY24 guidance Some clarity on plans for resource extension and mine life Updates on approach to modest (small) acquisitions in exploration
We should get a clear indication as to where small shareholders sit on the MGX priority list. Get the first 3 and I reckon we're a chance for a decent rerate but otherwise it's litter more than trading fodder.
I've taken another small position yesterday but that's all cos I reckon there's a good chance small holders are gonna get stiffed.
MGX Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
(20min delay)