Credit Suisse have been shorting this stock since Nov 2014. Read the announcement. Borrowed under ASLA and then short selling down holdings.
Funwithsimon.... the boys are taking the mickey out of you. MGX is a cash rich company, they have next to no debt with $350M in cash/term deposits. The problem the company faces at the moment is their all in costs are greater then their realised revenue. They are not a low cost miner, they do not have rail or significant port infrastructure and as such their costs to produce IO is higher than say BHP or RIO... this is why their SP is currently getting hammered. They also have a mine closed which is reducing their production capacity and increasing their marginal cost per tonne.
MGX's SP will only improve if there is an improvement in the IO price, thus making them a profitable company or they look to merge/acquire another business.
Small Cap Mining Stocks are a highly risky investment proposition. Unless you understand the fundamentals and commercial metrics of each business you are sure to lose money... it is like gambling.
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Last
43.0¢ |
Change
0.010(2.38%) |
Mkt cap ! $522.4M |
Open | High | Low | Value | Volume |
42.5¢ | 44.0¢ | 42.5¢ | $627.9K | 1.453M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 34288 | 43.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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43.5¢ | 17500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 34288 | 0.430 |
6 | 179245 | 0.425 |
11 | 382503 | 0.420 |
6 | 82833 | 0.415 |
8 | 119148 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.435 | 17500 | 1 |
0.440 | 275406 | 8 |
0.445 | 104076 | 4 |
0.450 | 313071 | 12 |
0.455 | 164000 | 4 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
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Last
43.5¢ |
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Change
0.010 ( 2.35 %) |
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Open | High | Low | Volume | ||
42.5¢ | 44.0¢ | 42.5¢ | 282963 | ||
Last updated 15.59pm 28/03/2024 ? |
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