MGX peer comparison

Let's for arguments sake value the mining operation and plant and equipment at zero which is what the market seem so be doing. I'll compare the small/mid cap I/O miners on cash position only.

MGX Market cap at 20.5c is $220 mill. Cash position $360 mill - debt $10 mill = $350 mill net cash.
So if you bought all of MGX at 20.5c you get their $350 cash -$220 buy price = $130 mill net cash

BCI Market cap @ 46.5c is $91 mill. Cash position is $92 mill - debt $58 mill = $34 mill net cash
If you buy all of BCI at 46.5c you get $34 mill cash - $91 mill buy price = -$57 mill (net debt)

AGO market cap at 15c is $138 mill. Cash position is $205 mill - debt $331 mill = -$126 mill (net debt)
If you buy all AGO at 15c you get -$126 mill (debt) - $138 mill buy price = -$254 mill (net debt)

GRR market cap @ 10c is $116 mill. Cash position is $140 mill - debt $489 mill = -$349 mill (net debt)
If you buy all GRR at 10c you get a whopping -$349 mill (debt) - $116 mill buy price = -$465 mill (net debt)

The market can be crazy sometimes. For MGX Friday was one of those days.