MGX 3.03% 68.0¢ mount gibson iron limited

fx and sales price

  1. 260 Posts.
    lightbulb Created with Sketch. 73
    I'm not sure the price is headed to 60c.

    Not only is MGX's FX hedging a disaster but the sales prices to APAC and Shougang over the next 8 months are a shocker for MGX. Agreeing to sell for $40/ WET tonne against $201 and $144/ DRY tonne lump and fines respectively shows MGX was desperate. (anyone know the relative price difference on dry and wet tonne prices?)

    I'm far from impressed by MGX's risk management which has left the Company so exposed and will cost us shareholders dear as this transaction means no takeover possibility.
 
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