Greenweed,
that is EXACTLY what is occurring in the ironore mk .......
MGX is another of the mid-cap miners trading below cash backing ........it will prob "burn" circa 50-60m in the next half .......it will be important for management to do everything to continue to reduce the cash opex line ......
it should highlight the fact - that in a world "awash" with cash - that getting any sort of funding for a "new project" will be extremly bloody tough.......those co's that survive this period, will be well placed on the (eventual) other side. MGX will be a surviver IMHO.
rgds
Value_Hunter
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Last
38.5¢ |
Change
-0.045(10.5%) |
Mkt cap ! $469.0M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 40.0¢ | 38.0¢ | $2.666M | 6.848M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 592377 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.0¢ | 349688 | 9 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |