Vast majority of investors of MGX are looking at the cash box of the company but not the mine asset, MGX has preserve the cash pretty well, but for the operation side there is nothing it can do with the iron ore price.
If the current situation persist it will be inevitable to shutdown/close the mines, like what BCI did.
Hopefully the management can make quick action, like someone suggested, to use the cash in hand to acquire other asset such as gold mine to diversify away from Iron ore business.
Ann: Quarterly Activities Report, page-15
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Last
31.5¢ |
Change
0.010(3.28%) |
Mkt cap ! $365.5M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 31.5¢ | 30.0¢ | $296.8K | 964.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 101000 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 242807 | 6 |
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| Last trade - 16.10pm 02/12/2024 (20 minute delay) ? |
| MGX (ASX) Chart |
