MGC is a good investment for long term holder, page-6

Agree with the long term sentiment but highlight both these recommendations were based on half year results and future outlook at that point in time. Expect both to issue revised advice early next week.

I can see the price staying relatively static in coming days and then a slow recovery. But the key will be what the actual companies full year results will be. I anticipate the Board have issued a 'worse case scenario' today and if they can draw down excess inventory, and profit is better than the estimated $39-42m, the price will soar.

The bigger issue on the horizon however, is the farmers support package (which is vital and in keeping with the co-op culture) but will create high levels of debt and gearing at year end. So after a $500m IPO to reduce debt they are back to square one with nothing yet to show for it. Not good.