MGX - Mount Gibson Iron

[el_ninj0]

Re: MGX

In my experiance, as soon as i sell a stock that i know will go up for what ever reason, it has always gone up and i have missed out on quite a few dollars. Im not going to make that mistake with this one as i know its got excellent prospects ahead.

If i had more hard earned, i'd be buying in right now aswell. Even though support is temporarily broken, it will come back soon in my opinion.

As per usual for mining, late november/december has alot coming in the way of announcments which should fuel a bit of movement in it.
I dont plan on selling out until atleast $1.10 and i think even then i would be cutting my feet short in the long run.

 

[chicken]

Re: MGX

In my experiance, as soon as i sell a stock that i know will go up for what ever reason, it has always gone up and i have missed out on quite a few dollars. Im not going to make that mistake with this one as i know its got excellent prospects ahead.

If i had more hard earned, i'd be buying in right now aswell. Even though support is temporarily broken, it will come back soon in my opinion.

As per usual for mining, late november/december has alot coming in the way of announcments which should fuel a bit of movement in it.
I dont plan on selling out until atleast $1.10 and i think even then i would be cutting my feet short in the long run.

Well said....it opened at 80.5 cents....yesterday was a buy NOT a sell...there is someone trying to buy as many as cheap as possible....good announcements coming for December...I am holding as this up and down means B all to me...the brokers have a target of $1.25 on this stock and the valuations will bear it out...selling at 79 cents...as it has not really broke the trend line if it went below by 5% then yes it has but yesterday was a pure manipulation...sell some stock Cheaper and wait for the mugs to jump on....the profits this company will generate will be excelent.....have a look at Portman which is being taken over and you talking $5 plus at present...MGX at present prices are cheap...just my opinion....do your research and find out.....

 

[chicken]

Re: MGX

I will be honest with you. Purchased 330,000 @ 61cents June/July,then purchased 370,000 June/July@ 67cents then purchased 300,000 @ 79.8average mid October everytime it dipped under 80cents!!
My stop loss is at 72cents!!!! Because I have such a big parcel I have allowed an extra 2 cents above my average.

Johnno, I own 200k shares and thought that is good but yours yes this one will do well for us..I think its the wait which sometimes gets you but MGX will be worth the wait..also I see the Goverments future fund of $170 billion will be invested in the local market so we are in for a ride..reading the BRW there is an article about the Chinese wanting to invest more heavy in the Australian market...and it looks as if a wall of money will hit the local market...so hold tight and enjoy the ride...its starting to get intresting........watch December....also on the technical side yesterday was just a sell down by a few shares hoping MUGS will jump on...did not quite work..they just picked up a few not many.......yhe trendline is still holding see todays opening price

 

[Kauri]

Re: MGX

Johnno, I own 200k shares and thought that is good but yours yes this one will do well for us..I think its the wait which sometimes gets you but MGX will be worth the wait..also I see the Goverments future fund of $170 billion will be invested in the local market so we are in for a ride..reading the BRW there is an article about the Chinese wanting to invest more heavy in the Australian market...and it looks as if a wall of money will hit the local market...so hold tight and enjoy the ride...its starting to get intresting........watch December....also on the technical side yesterday was just a sell down by a few shares hoping MUGS will jump on...did not quite work..they just picked up a few not many.......yhe trendline is still holding see todays opening price

170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.

 

[chicken]

Re: MGX

170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.

I got those figures from BRW November issue...all I know its a lot of money.... and see it was a buy yesterday...one can easly think the market goes down but as I said...you sold they are happy and the market goes up...I sold 20k shares in ZFX...made a profit but low and behold it just went up,,,,up and bl.up....but I was happy with my $$$ I made

 

[Kauri]

Re: MGX

I got those figures from BRW November issue...all I know its a lot of money.... and see it was a buy yesterday...one can easly think the market goes down but as I said...you sold they are happy and the market goes up...I sold 20k shares in ZFX...made a profit but low and behold it just went up,,,,up and bl.up....but I was happy with my $$$ I made

Chicken...for me it was a sell...what was a buy was CSM, per my post in the CSM thread yesterday. CSM via cfd's @ $3.20 yesterday...out @3.33 today... around 35% return .2 trading days...MGX would have to have gone to $1.00 plus for me to get that return. Its not whether it goes up or down with me, its the momentum. Its just the way I trade. :bier:

 

[johnno261]

Re: MGX

Chicken...for me it was a sell...what was a buy was CSM, per my post in the CSM thread yesterday. CSM via cfd's @ $3.20 yesterday...out @3.33 today... around 35% return .2 trading days...MGX would have to have gone to $1.00 plus for me to get that return. Its not whether it goes up or down with me, its the momentum. Its just the way I trade. :bier:

Correct me if I'm wrong Kauri, but $3.20 to $3.33 is roughly only 4% not 35%

 

[Kauri]

Re: MGX

Correct me if I'm wrong Kauri, but $3.20 to $3.33 is roughly only 4% not 35%

johno...sorry if it was not clear...with cfd,s you put down a % of the trades worth, similar to margin trading.... so 31,000 CSM @ $3.2 would cost $99200. CSM is available at 10% so you put up $9920 plus commission. Selling 31,000 @ $3.33 gives you $103230 ....so 103230-99200 gives you a $4030 return on your $9920... and so after commission and interest for the 2 days held............:drink: My shout

 

[chicken]

Re: MGX

170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.

I checked where I got the information...it is written in tuesdays Brisbane Courier Mail in the business section..Costello being interviewed and thats where these figures came from.....as I said before there is a mighty lot of money will be seeking a home....just that you know by the way Kauri look at MAP and you get this small % movement all the time....

 

[el_ninj0]

Iron Ore Price Rises

Could be some interesting stuff going on this month if the banks are right.

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Bank flags 30pc iron ore rise

JOHN PHACEAS

Chinese sabre rattling over unacceptably high iron ore prices looks certain to fall on deaf ears when annual price talks resume this month, with fresh industry research indicating prices could rise another 30 per cent in 2006.

In two separate client notes, US investment bank Merrill Lynch said iron ore suppliers were still unable to keep pace with China-fuelled demand growth despite committing billions to upgrade the capacity of mines in the Pilbara and Brazil.

"China's ramp-up in crude steel capacity to an estimated 430 million tonnes by 2005 from 127 million tonnes in 2000 has put increasing pressure on Chinese and global iron ore supply, leading to a substantial increase in imports," the bank said.

It believed forecasts that Chinese ore imports would double from 208 million tonnes in 2004 to 420 million tonnes in 2010 were "way too conservative".

It did not change its base-case expectation that iron ore prices will rise 10 per cent in 2006 and remain flat in 2007, but said it now believed there was a strong chance prices could rise even more.

"Our forecast remains for a plus-10 per cent outcome, however the very tight market and large deficit we forecast is pointing to a potential 20-30 per cent settlement," Merrill Lynch said.

Merrill Lynch is the most bullish of the big investment banks on iron ore prices, but most are now predicting prices will rise 10-15 per cent next year ahead of a rollover in 2007.

That puts miners on a collision course with Chinese steelmakers, who are hoping prices will fall 5-10 per cent next year in the wake of February's massive 71.5 per cent jump.

But BHP Billiton has already flagged it could again seek an extra premium to recoup the so-called freight differential with supplies from Brazil. Australian ore already costs Chinese buyers about $US20 ($26) a tonne less to import than Brazilian ore because of the shorter shipping distance.

Still, freight rates have plunged in recent months and Merrill Lynch said a 10 per cent price rise could be claimed as a victory by both sides.

"Landed iron ore (prices) in China may prove to be at levels similar to those in 2005," it said.

But to boost their negotiating power and lock in future supplies, Chinese steelmakers have been aggressively investing in new iron ore mines, especially in Australia.

Andrew Forrest's Fortescue Metals Group, which is planning a $2.4 billion iron ore development in the Pilbara, and emerging WA miners Midwest Corporation, Murchison Metals and Mount Gibson Iron have all drawn substantial interest from Asian steel mills.

At Fortescue's annual meeting yesterday, Mr Forrest said he remained confident of securing financing for the 45 million tonnes a year project within four months.

"We believe that putting together the finance package is only a matter of time, and we have made very good progress, I think, on a number of fronts with that," Mr Forrest said.

"Unfortunately, because of the delicate nature of those discussions I can't be specific."

Fortescue's preferred option was to sell equity in its Chichester Range project to a major joint venture partner, and it was open to "all options", including potential partnerships with Chinese steel mills, he said.

Iron ore shares rose across the board yesterday. Rio rose $1.62 to $59.80, BHP climbed 26 ¢ to $21.35, Fortescue added 8 ¢ to $4.85 and Mt Gibson rose 2.5 ¢ to 81.5 ¢.

from: http://www.thewest.com.au/20051109/business/tw-business-home-sto132677.html
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Looking very interesting.

 

[chicken]

Re: MGX

Once Rio,BHP negotiated the Iron ore price MGX will start moving again...at present one broker is playing this stock like a fiddle up and down.....its forecast that the price could rise as much as 20%....there was an anouncement by Rio that at present we have a slight shortage...so it will be intresting to see what happends in the next 2 weeks...MGX share price may knock up as high as $1....

 

[laurie]

Re: MGX

Hi guys my first post please treat with care

When will MGX pay a dividend! does the market expert it or is it up to the directors appreciate any help

cheers laurie

 

[johnno261]

Re: MGX

Once Rio,BHP negotiated the Iron ore price MGX will start moving again...at present one broker is playing this stock like a fiddle up and down.....its forecast that the price could rise as much as 20%....there was an anouncement by Rio that at present we have a slight shortage...so it will be intresting to see what happends in the next 2 weeks...MGX share price may knock up as high as $1....

So obvious someone is manipulating this stock at present to Buy in.Never before has there been a heavy sell side on MGX as it is now, and why would you even consider selling now. Like giving up in a marathon with the finish line in sight and I should know, thats one thing a strong determined mind does not do!!!!

MGX is about to move!!

 

[Lucstar]

Re: MGX

I realise that MGX is being manipulated
But i dont quite understand how
How one of yous explain to me how you can manipulate MGX's share price in order to BUY IN
Could you give an example scenario so i can understand
Also, how can u tell its being manipulated or is it just market forces?

Much appreciated,

 

[chicken]

Re: MGX

I realise that MGX is being manipulated
But i dont quite understand how
How one of yous explain to me how you can manipulate MGX's share price in order to BUY IN
Could you give an example scenario so i can understand
Also, how can u tell its being manipulated or is it just market forces?

Much appreciated,

How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

 

[johnno261]

Re: MGX

How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

Don't expect a definate figure on Iron Ore pricing for 06/07 til 1st Quarter 06. Forecast realistically is around 10%. I much prefer to under estimate, because as we know, the market magnifies bad news at times. Any % increase should really be looked at as a BONUS!!

 

[TheProphet]

Re: MGX

guys MGX has had price manipulation since MAY! Well in my opinion at least.

Pls note they are being offered as cfd's in the next couple of weeks. So we should see some serious action!!!

 

[johnno261]

Re: MGX

guys MGX has had price manipulation since MAY! Well in my opinion at least.



Pls note they are being offered as cfd's in the next couple of weeks. So we should see some serious action!!!

E-Trade has MGX CFD's on the go!! Agree manipulation has been going since May. This will fly shortly. Resouce upgrades, Iron Ore Increases, BFS all go, forecast profits are huge, big Chinese backing. What a ride we are about to partake in!!!

 

[johnno261]

Re: MGX

How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

Chicken, I have just been reading that China intends to spend 62billion dollars over the next 5 years on 6,000new trains and 1,500 kilometres of train lines.When i read this type of material, excitement about MGX overwhelms me!!! Strap yourself in for lift off!!!

 

[chicken]

Re: MGX

Chicken, I have just been reading that China intends to spend 62billion dollars over the next 5 years on 6,000new trains and 1,500 kilometres of train lines.When i read this type of material, excitement about MGX overwhelms me!!! Strap yourself in for lift off!!!

I think this share will start showing some life..soon, as some serious money will come this way...CDFs...and iron ore price rise will fire up this one.....they are making good $$$$$....should flow through soon.....