I'm sure with anticipation of at least 2 cents by September. Next year around 8-10 cents.
Macquarie was looking around 10-15 cents - that's a big chunk 15 cents.
My crystal ball says around 8 cents keep in mind on the basis of no acquisition. MGX is in the position especially next year to look at other opportunities - the board is looking for growth either a bolt on to the existing business or seek other minerals.
The share price will eventually wake up once the dividend announcement comes through and the updated forecast and valuations at 5 times is reasonable.
Also as a reminder when the 5 year strategy was produced we're looking at an NPV of around $840m, sales at $68 per tonne usd with exchange rate of .72 - cash costs dropping below $50 per tonne. We are beyond these numbers why Goodheart was highlighting the $1 billion cash at bank by the 2 years is achievable and even greater.
Now that everything is in order and finally Mr Kerr has kept to his word for the first time and more likely exceed forecast.
You would have to think and wonder what the management team are now doing - now that the major hurdle has been satisfied and production is in full swing one would think and just reiterating acquisitions is on the horizon.
The share price could go way beyond the 40 cents as we know it today. Is it worth $1.50, $2.50 or $4.50 - let's way and see shall we.
MGX Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
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