MGX mount gibson iron limited

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MGX u have to wonder if company gives a shite about the retail...

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fishermancray

289 Posts.

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18/07/24

13:26

Post #: 74812024
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Originally posted by jdpc35: ↑

Yesterday's movements destroyed any sense of a near term breakout for MGX. Up until yesterday, it looked encouraging that MGX was about to start a new move up after nearly 7 months of a grinding downward trend.

Stepping back to a 3yr view and yesterday also breached an important support line that has held since late 2021 and has previously stood the test on three occasions through 2022 to 2024. This suggests that the Nov 2021 low of 35c is now very much in play - surprising given that the cash + investments backing is sitting at 37cps.

I suspect that management would have been surprised by the market response to yesterday's announcement. It will be interesting to see if Peter Kerr has reflected overnight and seeks to take a different / more strategic messaging approach when he presents to the Noosa mining conference later today, as clearly the market cannot see where there is any incremental value in MGX beyond what they currently hold in cash + investments.

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MGX u have to wonder if company gives a shite about the retail investors.
I would off load FEX options convert buyback small shareholders and do what they have talked about for years invest in other companies or takeover… or put out a For Sale Sign for MGX…

MGX Price at posting: 38.5¢ Sentiment: Buy Disclosure: Not Held
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(20min delay)
Last 26.5¢		Change 0.000(0.00%)		Mkt cap ! $312.5M

Open	High	Low	Value	Volume
27.0¢	27.0¢	25.8¢	$777.8K	2.952M

Buyers (Bids)

No.	Vol.	Price($)
2	259284	26.5¢

Sellers (Offers)

Price($)	Vol.	No.
27.0¢	209741	8

View Market Depth

No.	Vol.	Price($)
2	259284	0.265
10	540197	0.260
9	564202	0.255
15	1053500	0.250
1	250000	0.245

Price($)	Vol.	No.
0.270	209741	8
0.275	751908	9
0.280	344525	9
0.285	243981	7
0.290	99145	5

Last trade - 16.10pm 18/06/2025 (20 minute delay)

MGX (ASX) Chart

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MGX u have to wonder if company gives a shite about the retail...

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