Closed at 44.5c on 19Oct before the release of the last quarterly report before trading on 20Oct - so price has advanced 10c or 22.5% since then.
Happy to sit here and take this increase with each quarterly release as I don't think most investors realise the combined Cash/Debtor balances will increase by $130mil this Dec quarter from $277mil at 30Sep to $407mil at 31Dec.
I'm expecting the Cash/Invest balance will increase by $80mil from $257mil at 30Sep to $337mil at 31Dec with shipping receivables increasing by $50mil from $20mil to $70mil - the increase in receivables is principally due to three late shipments this month but at least 90% of these amounts will be collected by 15Jan.
I don't think anything is going to upset the Gravy Train just yet.
MGX Price at posting:
54.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)