There are a few stocks on the asx trading at a substantial discount to their cash position. Of those MGX would seem to have the biggest upside. Interestingly 3 happen to be iron ore stocks!!!!
GWR - small cap at $29M market cap holding $55.6M in cash and listed securities plus a royalty stream and a Manganese deposit in Tasmania
has been trading at a discount for years as the company does nothing with the money while it tries to progress its manganese business
GRR - iron pellet business that is still profitable (like MGX) $214 M market cap with $245 m in cash
HLS - pathology provider which just sold 1 part of it's business for $900M - paid a $300M special dividend and as a result has come out of the asx 200 index due to lower market cap.
happy for posters to add any other ones they know of out of interest.
MGX has been trading at a discount for less time than the other two miners and should they announce a new project they should re rate quickly- however judging by the other two iron ore stocks let's hope it is not another iron ore or manganese tilt!
MGX Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)