MGX 2.41% 85.0¢ mount gibson iron limited

fair takeover premium

  1. 208 Posts.
    Just saw the news that the recent purchase by the chinese has been given approval by the minister. Whether this is the same as getting foriegn investment board approval is yet to be seen (as they are supposed to be independent of the minister). Anyway just looking over the future EPS, it is predicted to be around 34.3 for 2009. Current share price is $3. Would a 40% takeover premium be justified? ie. $4.2. The EPS for 2010 is 54.2. Using a PE of 10, for its relatively short mine life, the share is still worth $5.4. The chinese seem to have gotten a real good bargin out of this deal.
 
watchlist Created with Sketch. Add MGX (ASX) to my watchlist
(20min delay)
Last
85.0¢
Change
0.020(2.41%)
Mkt cap ! $960.8M
Open High Low Value Volume
83.0¢ 85.0¢ 83.0¢ $2.549M 3.008M

Buyers (Bids)

No. Vol. Price($)
1 21743 84.5¢
 

Sellers (Offers)

Price($) Vol. No.
85.0¢ 115166 6
View Market Depth
Last trade - 16.10pm 12/12/2019 (20 minute delay) ?
(live)
Last
84.5¢
  Change
0.020 ( 0.87 %)
Open High Low Volume
84.0¢ 85.0¢ 84.0¢ 2141090
Last updated 15.59pm 12/12/2019 (live) ?
MGX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.