The AUD ore price pre rate cut was 85 ( 66 divided by 77.1)
Today its 80.3 ( 60 divided by 74.6)
On a 3m tonne prod profile that is 4.7 less margin or 14m per annum.
the stock has moved from 22 to 19.5 which is more than 24 m market cap change. Now we know the margin should be on top of the 345m in cash so what we have here is a 14m annualised revenue reduction resulting in the company trading at a bigger negative Enterprise value from -215 to -233.
Please don't tell me the SP at 19.5 is justified or bares any resemblance to underlying value which I a SP somewhere between 32-40c
Off market share buy back, page-21
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Last
31.5¢ |
Change
0.010(3.28%) |
Mkt cap ! $365.5M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 31.5¢ | 30.0¢ | $296.8K | 964.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 101000 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 242807 | 6 |
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| Last trade - 16.10pm 02/12/2024 (20 minute delay) ? |
| MGX (ASX) Chart |
