The report was as expected - maybe marginally lower due to low pricing of low grade. I think from here the stock will trade in a range as the increased cash spend and cash drawn down from up front prestipping wll see cash fall for the next 3 quarters. This quarter is also the quarter with the highest project restart risk . So I expect MgX to trade around these levels for the next quarter or at least until we have news on the dewatering being a success.
My point is don’t be shocked if Mgx stays flat for the ST, in my view it may even trade in the high 30s
Ann: Quarterly Activities Report, page-14
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Last
30.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $365.5M | |||
| Open | High | Low | Value | Volume |
| 30.0¢ | 30.5¢ | 29.5¢ | $237.0K | 789.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 195619 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 195225 | 4 |
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| Last trade - 16.10pm 25/11/2024 (20 minute delay) ? |
| MGX (ASX) Chart |
