Here is the thing folks, even if the pursued the wall rebuild,...

Here is the thing folks, even if the pursued the wall rebuild, it still leaves cash at 355, assuming the use all payout which I understand they will not, and this is before the business interruption payment, however I would imagine the evaluation may come up with a required price of IO a little higher than todays price and I also imagine they would factor in projected IO prices.

the likely scenario is they do the evaluation of the wall rebuild and postpone rebuild. The ST IO exposure will likely be through Iron Hill which has very little capex requirements ( 1.5m ) and will also allow them to keep staff and reduce the rail liability by early to mid 2017 to zero .

I imagine that in the next 1-3 moths we will also hear about the BI payout. an acquisition and or capital management, so there are at least 3 factors that could result in a significant rerate from here. the payout most at risk was the property payout, as their was always a risk the blame for the failure could have been shifted elsewhere, but this didn't happen and the payout was reasonable suggesting the BI process and outcome should also be a good one for MGX

Its time to sit back and appreciate where we are at, and where we may be in the next few months, the IO price has become significantly less important for mgx sentiment as everybody well and truly should see this as an undervalued cash box