MGT - Magnetite Mines

[System]

Re: MFE - Magnetite Mines

On December 16th, 2015, Royal Resources Limited (ROY) changed its name and ASX code to Magnetite Mines Limited (MFE).

 

[System]

On December 24th, 2015, Magnetite Mines Limited changed its ASX code from MFE to MGT.

 

[jonnycage]

up and coming small cap miner, recently hit the market for funds, keeping a close eye

 

[tdkoel]

Looking for any thoughts on MGT mining and what people think of its future potential?

 

[Dona Ferentes]

as opposed to haematite, companies mining magnetite Fe3O4 fell out of bed last mining bust. And there'll be another

 

[over9k]

Bumping this for its insanity. Anyone hold?

 

[greggles]

Bumping this for its insanity. Anyone hold?

MGT has had a good 2021 so far. Increased interest in the company seems to have co-incided with the release of a comprehensive Investor Webinar Presentation on 16 March 2021. It's a very interesting read and makes a compelling case for the company's Razorback Iron Project and Muster Dam Iron Project in S.A.

Bottom line: large resource, close to established infrastructure, conventional processing, low enterprise value/resource tonne.

Things are starting to firm up but there is a long way to go with mining not expected to commence until late 2024. Still, an interesting iron ore prospect nonetheless.

 

[Sean K]

MGT has had a good 2021 so far. Increased interest in the company seems to have co-incided with the release of a comprehensive Investor Webinar Presentation on 16 March 2021. It's a very interesting read and makes a compelling case for the company's Razorback Iron Project and Muster Dam Iron Project in S.A.

Bottom line: large resource, close to established infrastructure, conventional processing, low enterprise value/resource tonne.

Things are starting to firm up but there is a long way to go with mining not expected to commence until late 2024. Still, an interesting iron ore prospect nonetheless.

3.2b tns is a lot of rocks, but what's the actual grade? They're saying they can process it to high grade product but at what cost. It's certainly big. MC about $130m. Is that cheap for this stage of development these days?

 

[greggles]

3.2b tns is a lot of rocks, but what's the actual grade? They're saying they can process it to high grade product but at what cost. It's certainly big. MC about $130m. Is that cheap for this stage of development these days?

I think MGT is riding high on optimism surrounding the current bullish iron ore price. If it goes up or down, so will the MGT share price. I would like to see the project economics based on various iron ore price levels. It would be interesting to see exactly how the two interact and how different scenarios would play out.

I think MGT has a lot of potential but as you say, it's still early days. Another one for the watchlist for me.

 

[Sean K]

I think MGT is riding high on optimism surrounding the current bullish iron ore price.

It's certainly riding the current wave. Was 0.002c 10 months ago. Anything to compare this to? Another magnetite player with almost 4b tns of fe?

 

[greggles]

Anything to compare this to? Another magnetite player with almost 4b tns of fe?

View attachment 122125

Can't think of anything off hand that is at this stage of development with the kind of resource that MGT has.

But where are iron ore prices headed? Goldman Sachs says down over the next few years as demand drops (mainly due to a slowdown in Chinese steel production) in an environment of oversupply.

I like MGT but it's at a particularly risky point in the development cycle at the moment. I'm watching with interest from the sidelines.

 

[Beaches]

The biggest issues with MGT are:
a) where does the money come from to construct the mine and benefication plant?
b) the 2024 production date. The price of Iron Ore could be anything by 2024.

Currently for the junior Iron Ore miners I prefer Fenix (FEX) and GWR Group (GWR) which have both just started shipping ore last month and with market caps of $110mil and $75mil respectively.

 

[Sean K]

The biggest issues with MGT are:
a) where does the money come from to construct the mine and benefication plant?
b) the 2024 production date. The price of Iron Ore could be anything by 2024.

Currently for the junior Iron Ore miners I prefer Fenix (FEX) and GWR Group (GWR) which have both just started shipping ore last month and with market caps of $110mil and $75mil respectively.

I'm not actually sure what I'm looking for at the moment; pre-discovery, or developer/producer. Maybe either. Probably something at the start of an upward trend in the Lassonde Curve. MGT are probably near the top of the discovery cycle because they haven't quite finished shoring up the resource, but FEX and GWR may be on the other side of the producer curve. Not sure how accurate and consistent this theory is across all companies.

 

[Sean K]

This thing's gone bananas the last 4 months.

I'm watching with interest from the sidelines.

It can sometimes be frustrating to watch with interest... (head banging emoji here)

 

[jancha]

Speeding ticket

 

[over9k]

Should've topped up in the dip :'(

 

[jancha]

I believe the $7mil @ 05.8c invested by anonymous insto .002c above the weekly sp average may have something to do with it.

 

[over9k]

REALLY should have topped up in the dip:

Oh well. A win's still a win. For now.

 

[Sean K]

I think I questioned the grade of this thing some time ago, because it wasn't clear at all in their statement and presentations. They're claiming they can make this 68% fe which really made my ears prick up, but at what cost? What was the % magnetite? Couldn't find it anywhere. Finally in todays ann they're saying it's only 18% fe. Really? No wonder the MC is so low. It's dirt.

But, what would I know, up 11%...

 

[Stockbailx]

Get piece of that action at a price...What puzzles me is what Magnetite whats it used for, sum sort of Iron Ore, I'm guessing. They certainly dig a lot of it? Announced today..
.http://www.aspecthuntley.com.au/docserver/02377425.pdf?fileid=02377425&datedir=20210524&edt=MjAyMS0wNS0yNCsxMzo1OToxNys0ODArMTM2MzQ0MCthbmRyZXd3ZXN0K3JlZGlyZWN0K2h0dHA6Ly93d3cuYXNwZWN0aHVudGxleS5jb20uYXUvaW1hZ2VzaWduYWwvZXJyb3JwYWdlcy9wZGZ0aW1lb3V0Lmh0bWwraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw