I don't hold MGX at the moment, but have been trading in and out since 2007.
Imho, there are a few things that are negatively affecting MGX share price, other than the negative sentiment across the board on iron ore stocks.
One, Severe weather condition, that seen the shipment production for march quarter drops by around 400,000t (quick calculation, is around min 6% of annual cap?)
Two, the bloody Chinese refuse to pay fines of $114 millions owed to MGX.
Three, There are at least 2 broker recommending 'Strong Sell' on MGX (and one 'Hold')
Four, Do you believe that the Chinese is in a massive bubble?
why low price, page-11
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Last
29.5¢ |
Change
0.010(3.51%) |
Mkt cap ! $359.4M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.5¢ | 28.5¢ | $637.1K | 2.210M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 275537 | 4 |
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| Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
| MGX (ASX) Chart |