No surprises.
So we have MGX with a market cap of $540m, net cash of $162m plus a further $25m of cash and liquids (shares) to come from the divestment to Fenix = $187m. So, market value of the mining assets is $353m.
Meanwhile, in what should now be the established operating level for MGX, they generated $91m of cashflow from mining operations for the quarter = $360m annualised. Market is valuing MGX at 1x annual pre-tax operating cashflow.
They also have $150m of stockpiled ore - which will underpin a steady FY24 result (ie the stockpiled ore will assist any wet season disruptions).
Will be interesting to see how the market reacts to this quarterly.
Ann: Quarterly Activities Report, page-2
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Last
43.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $528.4M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 44.0¢ | 43.0¢ | $238.7K | 548.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 214534 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 21506 | 2 |
View Market Depth
| Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
43.3¢ |
Change
0.000 ( 1.50 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.0¢ | 43.3¢ | 287780 | ||
| Last updated 15.59pm 14/05/2024 ? | |||||
| MGX (ASX) Chart |