MGX has cash in bank $360 mill or 33 cents per share as of Nov 30th. Also zero debt, $35 mill tax refund coming, operating mines (Kaloon Is. on c&m) and $220 mill in plant and equipment. Last financial year MGX declared $95 mill profit after tax and paid a dividend of 4cps.
Iron ore today bounced to U$71.2 or A$87 per ton (@A$1 =US81.8c). Chinese New Year re-stocking likely to extend this reversal.
Today the share price is still only 26c, or still $80 mill under cash backing. Come 2015 this is going to look like the buy of the year IMO.
MGX 33 cents cash backing
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Last
34.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $414.2M | |||
| Open | High | Low | Value | Volume |
| 34.0¢ | 34.5¢ | 34.0¢ | $76.93K | 225.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 283474 | 34.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.5¢ | 65545 | 4 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| MGX (ASX) Chart |