When all iron ore producers are struggling with debt, ie. Fmg, ari, ago
Mgx has 345m in cash and no debt and is looking for acquisitions outside of iron ore
"We are also very encouraged by the progress made evaluating the rebuild options for the Main Pit seawall at Koolan Island, while also continuing to evaluate potential new resources acquisition opportunities outside of iron ore. "
If they ann. an acquisition of lithium projects this would not only turn the company around but share price would multiply many times. Specs that have no cash can multiply in share price so i cant see why cashed up mgx cant?
345m in cash with a market cap of 250m,this is a no brainer imo
In addition, they do not need to dump their iron ore operations given prices stay where they are, this is a huge bargain and hence why im loading up big on this!
Market will soon wake up to this when an acquisition "outside" of iron ore is made!
Cheers, traderRrr
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Mkt cap ! $365.5M | |||
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