Hi
@miningnut
Great summary and something I've been glancing at for some time. But I'm not sure we've got apples and apples as both GRR and MGX like to speak their own language. The biggest source of risk of error is how everybody treats inventory... and I'm not sure I have it clear for
both GRR and MGX.
A simple analysis I did this morning looks like :
Big differences:
1. MGX keeps talking in terms of wmt. I have allowed 8% moisture adjustment. Not a loose change adjustment
2. MGX has I think built substantial stockpile of material; GRR rattling around a constant volume because they're smart. MGX boasts operating costs A$84/t so I have used that. Not sure what is correct
With these adjustments, I think the comparison is not so ugly. And I would have expected this with the only meaningful difference being any pellet premium and pelletising costs.
Lastly,
@miningnut, I'm only hacking and just began to think about MGX with any sense of purpose so I might be 100% wrong.
I think any delta in market cap will be recognising that has GRR consistently performed whereby MGX has consistently screwed up ...
have a great day
(20min delay)