A year ago we had a loan of $25 million to keep the business operational. Just 12 months later and our cash position is knocking on the door of half a billion dollars.
Peter Kerd has stated dividends will return as soon as imputation credits are available.
The ships keep on getting loaded like clockwork, consistently meeting or exceeding guidance.
Its Chinese new year . . . its often quiet at this time.
Fennex, for which we are a major holder with options, has recently aquired further iron ore tennaments in the mid west . . . and reportedly aquired them quite cheap ($1 per tonne for 10 million tonnes).
Understandably MGX are quiet lipped about their future options other than stating they aim to stay in base metals.
MGX Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held
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