Hi P87, I sold at 73c and didn't bother with the divi. Out for good.
50c is entirely possible as the smart money I think are going to a number of juniors in the Pilbara ripe for consolidation or T.O.
Problem with MGX is mine life is coming to an end (production has already peaked. It's all down hill from here).
Any acquisition of undeveloped resources (using existing cash) will drain the cash balance and there will be no money anyway to develop it. (Anything decent in the Pilbara will cost a billion to develop).
Having the Chinese owning half the company is very bad news (worst news of all).
(IMO) Any Chinese T.O will be done after the sp has been systematically smashed over time and then a low-ball offer is lobbed (seemingly attractive given the premium to the recent average sp).
That's how the Chinese operate.
MGX share price, page-31
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Last
32.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $388.8M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.0¢ | 32.0¢ | $309.9K | 956.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 100000 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| MGX (ASX) Chart |