These short positions may have been taken a long time ago. At...

These short positions may have been taken a long time ago. At this point shorting would be murder and I doubt we will have new shorts

All I know analysts are going to be way out with their estimates as none of them update the underlying IO price to change numbers . Citi have assumed an IO price of 37 for the first half , instead of changing it to at least 45 they have left it there. This is why analysts are always changing the TP after the event

could easily be 380-390 m cash Balance by year end without insurance pay out and as high as 440m with.
The key is all the analysts are keeping TP low for the following reasons
1- assumed IO would be much lower and MGX would be producing at a loss and thus cash would be marginally depleting ( the reverse is happening )
2 assumed first closure would happen early and rail liability higher - wrong again
3 Risk of cash funds being spent poorly - unlikely as MGX have indicated it is unlikely it will all be spent on one project , this mitigating this risk

So because these great analysts aren't privy to how the company will spend their cash they believe it warrants a 35% discount. What a joke when these clowns can't even bother updated their assumptions that are proving to be way off .
Citi as an example has IO at 27 usd in 17 and 18 !
Like leaving oil at 90 when it was trading at 60 and only changing it when it was 40 !

At worst MGX acquire a projects that has valuation move closer to purchase price and even better they by something analysts like and value it at higher than purchase price and slap a 40c val on the stock