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.
Started buying this under 40 cents back around mid-2023. Back...
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Last
44.0¢ |
Change
0.005(1.15%) |
Mkt cap ! $534.5M | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 44.5¢ | 43.5¢ | $178.2K | 404.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 240727 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 436449 | 4 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
44.0¢ |
Change
0.005 ( 0.57 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.5¢ | 43.5¢ | 123351 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| MGX (ASX) Chart |