I would understand if they market was discounting cash if they...

I would understand if they market was discounting cash if they were losing money operationally or had a history of waste, but MGX has neither. Judging by the last SP rally strongly correlated to the IO rally the market is simply projecting a low assumed IO price plus discounted cash based on acquisition risk . In my view both are wrong, IO price assumptions have been wrong and the analysts have adjusted prices up or down after the event . As for acquisition risk, any company may acquire an expensive asset, their value doesn't get discounted so on my view this too is ridiculous .
iO up 2% Monday so let's see if we get some traction tomorrow