MGX posted their half year result today. MGX is probably the closest comparative company to GBG.
Something that stood out to me was that for the first half year they recorded a Net Profit of $15.7m from a measly volume of Total Product Sales of 1.7m wet metric tonnes. And this was for MGX's product being at the 62% IO level or below.
Karara produces and sells more than double that on a half yearly basis and we produce at the much higher 66% content level that attracts the added premium.
It also goes to show that if the IO price for mag product can be sustained at these levels or higher for a decent length of time, then GBG could well be seriously back in town.
We have to be making money at these spot price levels right now - if not, serious questions need to be asked of management.
Does anyone know when the Half Yearly report is out?
GBG Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held