ASX:MGXMetals and Mining
MGX Resources (ASX:MGX) Shares Confront Koolan Write Downs And Cash Rich Pivot
The market walked into MGX Resources’ full year numbers with the stock at A$0.365 and a gentle rise over the past month, pricing in a clean transition story rather than fireworks. The headline instead was a sharp accounting reality check. MGX reported revenue of A$204m but finished the year with a net loss after tax of A$30.2m driven by A$58.9m of impairments on Koolan Island.
Investors now need to decide whether today’s price reflects that loss or the A$412.1m cash and investments that still...