41.5c doesn't seem real but I' staying so long as MGX does nothing stupid with the cash.
@miningnut ... your June forecast as certainly passed the passage of time test and I think at 11 ships is looking pretty good. I was a little surprised to be looking for only 11 ships when the three prior qtrs were probably closer to 13. But alas.
I think however the slow down was deliberate ... they'll achieve mid-point guidance I think at about 4.1m tonnes which is a tick ... and suggests that MGX were planning the slow down. I'm sort of hoping they they had foreshadowed soft prices preferring to leave the material in ground / on-site until prices firmed. GRR I think behave opposite ... ie send more in soft markets and less into full markets.
There is some crusher works scheduled ... I do hope they'll publish an announcement shortly about having successfully commissioned whatever it was that they were doing. This would sit well with the narrative that the slow down was deliberate.
But without looking to incite Albert to riot, a nigh $70m enterprise value does look almost silly at best; concerning at worst. Having said that, I think there was a time when GRR was valued at and maybe even less cash backing, so stranger things are possible.
have a great day
MGX Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
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