Here is my estimate for 30.6.24 (based on current IO price and guidance of 66 ships)
Current 65% fines = $145 usd dmt Minus freight . . . . . $14 usd dmt Minus penalties . . . . $5 usd dmt Sale price ..................$126 usd dmt $126 usd = $185.3 aud FY 24 Forecast = 66 ships = $977 million Plus railway income of $3 million Less . . . Mining & prod @ $70 = -$369 million Royalties at 9.75% = ...-$95 million Admin........................-$5 million Lease.........................-$13 million NET INCOME................$502 million Prior years losses carried forward Tax payable = zero NPAT = $502 million
This equates to after tax earnings of 41 cents per share.
That equates to a current share price to earnings ratio of about 1 to 1.
2 to 1 = SP of 80 cents 3 to 1 = SP of $1.20 4 to 1 = SP of $1.60 5 to 1 = SP of $2.00
MGX Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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