Started buying this under 40 cents back around mid-2023. Back then the EV was between $300-400m and trading with an EV/NPAT of around about 1-1.5x.
Today it's at 50 cents with an EV of around $200m and EV/NPAT of around 0.5x.
Crazy, even with a mine life of only a few more years. Iron ore, aussie dollar and oil prices allowing, MGX should have around about $1b in the bank by the time the mine runs dry. With really good luck on those fronts we could be even higher, maybe around $1.2-1.4b. Even if she had no new projects on the go and traded at a discount to cash in the bank we're still looking at a pretty comfy 40-100% increase in share price.
MGX Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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