"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"
Previously MGX only paid one dividend / year. So if MGX doesn't announce a dividend in two weeks time then it will be another year with no dividend.
MGX should pay a minimum of 2c dividend, otherwise the share will be sold off further.
If MGX management want to tell the market that MGX is on the improve then a 3 or4c dividend should be paid, although I think it unlikely.
If MGX was producing at this current rate 2 years ago, then MGX would've been paying huge dividends like Grange GRR, unfortunately MGX missed the IO boom, and is now getting bottom of the cycle prices. By the time the cycle turns MGX will have little IO left.
I doubt whether MGX share price will ever get above 70c again, I doubt whether MGX will make any acquisition that will be value accretive .
MGX Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
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