The biggest issue with the likes of BCI and AGO is their low grade IO (FMG also, but they have good economy of scale). The move to a bigger discount for low grade ores is a structural change that's here for good. Money may be King, no doubt, but so is grade.
While MGX hasn't the long term resources of, eg, BCI, what it does have is higher grade ores. Without KI MGX was averaging revenues of only US$40/t (last quarterly), managing to break even, but thats about it. It was no surprise that the board decided to resurrect KI - they need the high grade ores.
MGX Chart, page-16
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Last
29.5¢ |
Change
-0.005(1.67%) |
Mkt cap ! $365.5M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 30.0¢ | 29.0¢ | $280.9K | 953.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 23837 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 376028 | 19 |
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| Last trade - 14.59pm 26/11/2024 (20 minute delay) ? |
| MGX (ASX) Chart |
