KI project on current spot, page-15

Valuation of a production company like MGX is made on forward cash flows and liabilities.

There are a lot of companies listed on the ASX that trade below their cash backing.

This should give you some insight into the valuation/risk interplay, rather than continuing to bang on about MGX being below cash backing.

We all want the same thing: an increased SP, but ignoring reality is not an argument.

That MGX's SP has increased lately has little to do with its cash and everything to do with the IOP increasing from a low of circa US$57/t to the current circaUS$66/t over the last month. That increase is pure profit for MGX. Pretty simple, really.