Company is so very far away from the edge. They could just sell out their entire IO portfolio and become an investment company with that 500M of cash and pay out a nice 2-3 cent dividend for the next 50 years. Sure we will never be a $40/t producer, but we don't have any lingering debts to service or major capital expenditures to spend on. Just small assets.
This is great for MGX (well, great would be IO = $150/t, but this is good). Hopefully IO stays depressed and drops even more and we can take advantage of a smaller company, picking up assets for a cents on the dollar. Probably a good time to negotiate with desperate contractors too! I won't mind if we have a small loss this year if it means we can pick up good assets for nothing.
In a game of survival with sub-billion dollar IO companies we are pretty well placed.
Company is so very far away from the edge. They could just sell...
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Last
43.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $523.8M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.5¢ | 43.0¢ | $12.15K | 28.26K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 223799 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 206345 | 23 |
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| Last trade - 13.21pm 16/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |