MGX - Mount Gibson Iron

[el_ninj0]

Re: MGX

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.....

I dont think this will move until the iron ore prices are released now. It had its chance, but didn't do anything. So until december/january we wont see alot of movement IMO.

Can anyone tell me how the brokerage firms decide to cfd on companies?
Any why is mgx getting added to cfd's now and hasn't been before?

Thanks.

 

[keepitreal]

Re: MGX

Chicken,

how can you tell if the buyer an seller are the same broker.. i use power etrade do i have the ability to see this?

 

[laurie]

Re: MGX

I would also like to know that keepitreal? I use Commsec it's market depth just has numbers against buy/sell!

cheers laurie

 

[Kauri]

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!!!

Why....
I would be looking for the company that can get $62,000,000,000 for 1500 km of track and 6000 trains and putting everything I had on it.

 

[johnno261]

Re: MGX

I dont think this will move until the iron ore prices are released now. It had its chance, but didn't do anything. So until december/january we wont see alot of movement IMO.

Can anyone tell me how the brokerage firms decide to cfd on companies?
Any why is mgx getting added to cfd's now and hasn't been before?

Thanks.

El ninjo, you will see alot of S/P movement before the finalised Iron Ore Price agreements are agreed upon. Can't say any more!!

 

[chicken]

Re: MGX

El ninjo, you will see alot of S/P movement before the finalised Iron Ore Price agreements are agreed upon. Can't say any more!!

Johnno261...what you are saying is what I can see...its sticking out like a thumb print...this SP will move suddenly very much...some one is buying like mad to get them at 80 cents....must be a broker who sees what I can...and as soon as it moves higher the buyer relieases shares on to the market....to keep the price at around 80 cents...and after studying the chart since May someone is been playing this game and buying like mad....see those bigger parcels a week back.....so it will get very intresting soon.......

 

[chicken]

Re: MGX

Chicken,

how can you tell if the buyer an seller are the same broker.. i use power etrade do i have the ability to see this?

Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP<DEEP pockets.....look at BRW november 10th..December 7 2005 issue page 24...the big Brazilian...CVRD....and it would suit them to buy this company as they also supply Iron ore...after all they are the largest in the world...this is a thought on the subject,,,,after all Tim Treadgold wrote the article

 

[chicken]

Re: MGX

Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP<DEEP pockets.....look at BRW november 10th..December 7 2005 issue page 24...the big Brazilian...CVRD....and it would suit them to buy this company as they also supply Iron ore...after all they are the largest in the world...this is a thought on the subject,,,,after all Tim Treadgold wrote the article

Look at Tradingroom the sales and the last sale was for 10000 shares at 80 cents...all the rest look how many shares were sold a lot of parcels at 51 shares 162 shares...just blatant manipulation by a broker...check it out...unbelievable...there you can see its a broker who is playing or taking a strong position...or wanting to take the company over this is been happening since MARCH.....how much stock has the broker aquired at 80 cents? as it seems to be happening everyday so far....check it out at tradingroom...depth of sales......and a couple parcels of 100k shares all bought quickly

 

[chicken]

Re: MGX

Just had news from Google re MGX...looks as if BHP,RIO,CRVS...are negotiating for an increase of 15.5% ....MGX said if they missed a shipment it usually is taken from them within a few hours the market is tight....MGX as they are smaller than the 3 large companies sells at prices negotiated by the 3....if thats the case we will soon see a movement in the SP..I am holding

 

[el_ninj0]

Re: MGX

Just had news from Google re MGX...looks as if BHP,RIO,CRVS...are negotiating for an increase of 15.5% ....MGX said if they missed a shipment it usually is taken from them within a few hours the market is tight....MGX as they are smaller than the 3 large companies sells at prices negotiated by the 3....if thats the case we will soon see a movement in the SP..I am holding

Chicken, can you post the link to that article please?

 

[chicken]

Re: MGX

Chicken, can you post the link to that article please?

go to Google search..type in mt gibsonironore....and you will get all the Mt gibson articles on the subject...you can go on their alert email and they send it to you as soon as news are out..looks as if iron ore will rise further in price...good for MGX

 

[Yippyio]

Re: MGX

Recent changes in directors interests;

Craig redhead - Sold 100 000 ordinary shares
Luke Tonkin - Issued 5 000 000 options
Alan Rule - Issued 2 000 000 options

 

[chicken]

Re: MGX

Recent changes in directors interests;

Craig redhead - Sold 100 000 ordinary shares
Luke Tonkin - Issued 5 000 000 options
Alan Rule - Issued 2 000 000 options

what you forgot to post Craig Redhead still owns nearly 1000000 shares so he sold some to get some cash....not a big deal

 

[Kauri]

Re: MGX

Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP........

If the big Brazilian wants in they had better hurry up.....

15 September 2005

The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000
​

​

MOUNT GIBSON IRON REVISES TERMS OF PROPOSED JOINT VENTURE WITH SHOUGANG GROUP
​

Mr Brian Johnson, Managing Director of Mount Gibson Iron Limited (ASX Code “MGX”) advises that negotiations with the Shougang Group to jointly develop the Extension Hill Magnetite Project at Mt Gibson are progressing satisfactorily. The Participation Agreement with Shougang has been revised to incorporate the following:​

• agreement by Shougang that it intends to take up a 50% shareholding in the slurry pipeline to be constructed between Mt Gibson and Geraldton in addition to a 50% interest in the mine development. The revised equity contributions including that for the pipeline are as follows:

Shougang Group: A$174 million
MGI Group: A$74 million plus past costs, BFS, and mining leases
• agreement by Shougang that it is basically satisfied in relation to its technical due diligence review of the project;
• extension of time for completion of the Bankable Feasibility Study (“BFS”) to 15 December 2005 to allow China Metallurgical Construction Corporation (“MCC”) to submit an offer for the turnkey construction of the crushing plant and concentrator for the project;
• joint reviews of the BFS to be conducted in mid October and mid November 2005 before its finalisation in December 2005;
• elimination of any specific financial or technical outcomes in the BFS as a prerequisite to Shougang’s investment;
• repricing of Shougang’s (or its nominee) option to subscribe for up to 15% of MGX’s issued shares (approximately 60 million shares) at a fixed price of 75 cents per share (conditional upon Shougang taking up a 50% interest in the project); and
• Shougang having the right to complete the contemplated transactions at any time up to 31 January 2006.
Mr Johnson said that the two month delay to completion of the BFS should not impact on the development schedule for the Project as engineering design was being progressed on most longlead items and mine prestripping at Extension Hill was still scheduled to commence in the second quarter of 2006. He also said that he was confident Shougang would give final notice of their unconditional commitment to participate in the project, earlier rather than later. Joint negotiations with project financiers will commence next month. Shougang should be an ideal partner for Mount Gibson Iron as they have extensive experience in mining and concentrating magnetite ores at their major mines in China and Peru, and are providing constructive input to the BFS.
Yours sincerely,
MOUNT GIBSON IRON LIMITED
Angela Dent
Company Secretary
Enquiries: Mr Brian Johnson or Mr Alan Rule
Managing Director Finance Director
Telephone: 61 8 9426-7500
Email: admin@mtgibsoniron.com.au
​

 

[chicken]

Re: MGX

Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP........

If the big Brazilian wants in they had better hurry up.....

15 September 2005

The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000
​

​

MOUNT GIBSON IRON REVISES TERMS OF PROPOSED JOINT VENTURE WITH SHOUGANG GROUP
​

Mr Brian Johnson, Managing Director of Mount Gibson Iron Limited (ASX Code “MGX”) advises that negotiations with the Shougang Group to jointly develop the Extension Hill Magnetite Project at Mt Gibson are progressing satisfactorily. The Participation Agreement with Shougang has been revised to incorporate the following:​

• agreement by Shougang that it intends to take up a 50% shareholding in the slurry pipeline to be constructed between Mt Gibson and Geraldton in addition to a 50% interest in the mine development. The revised equity contributions including that for the pipeline are as follows:

Shougang Group: A$174 million
MGI Group: A$74 million plus past costs, BFS, and mining leases
• agreement by Shougang that it is basically satisfied in relation to its technical due diligence review of the project;
• extension of time for completion of the Bankable Feasibility Study (“BFS”) to 15 December 2005 to allow China Metallurgical Construction Corporation (“MCC”) to submit an offer for the turnkey construction of the crushing plant and concentrator for the project;
• joint reviews of the BFS to be conducted in mid October and mid November 2005 before its finalisation in December 2005;
• elimination of any specific financial or technical outcomes in the BFS as a prerequisite to Shougang’s investment;
• repricing of Shougang’s (or its nominee) option to subscribe for up to 15% of MGX’s issued shares (approximately 60 million shares) at a fixed price of 75 cents per share (conditional upon Shougang taking up a 50% interest in the project); and
• Shougang having the right to complete the contemplated transactions at any time up to 31 January 2006.
Mr Johnson said that the two month delay to completion of the BFS should not impact on the development schedule for the Project as engineering design was being progressed on most longlead items and mine prestripping at Extension Hill was still scheduled to commence in the second quarter of 2006. He also said that he was confident Shougang would give final notice of their unconditional commitment to participate in the project, earlier rather than later. Joint negotiations with project financiers will commence next month. Shougang should be an ideal partner for Mount Gibson Iron as they have extensive experience in mining and concentrating magnetite ores at their major mines in China and Peru, and are providing constructive input to the BFS.
Yours sincerely,
MOUNT GIBSON IRON LIMITED
Angela Dent
Company Secretary
Enquiries: Mr Brian Johnson or Mr Alan Rule
Managing Director Finance Director
Telephone: 61 8 9426-7500
Email: admin@mtgibsoniron.com.au
​

Looks as if I have eggs on my face..the Chinese must be the buyers or a broker...some one is buying as many as they can get...price should move soon...just my thoughts

 

[chicken]

Re: MGX

Talk about selling a share down....seller at 78 cents only 123 shares.. 1 seller. also 1 seller at 78.5 cents 25000 shares...that broker or trader would have a buy order in at 77.5 cents.....so if you want more shares at lower prices you just walk them up or down....as soon as we get a better update from mgx the sooner the Sp will react.....this is a sound company with a hugh upside....the Chinese have to take up their half of the business by January 2006...so watch this space......

 

[TheAnalyst]

Re: MGX

Talk about selling a share down....seller at 78 cents only 123 shares.. 1 seller. also 1 seller at 78.5 cents 25000 shares...that broker or trader would have a buy order in at 77.5 cents.....so if you want more shares at lower prices you just walk them up or down....as soon as we get a better update from mgx the sooner the Sp will react.....this is a sound company with a hugh upside....the Chinese have to take up their half of the business by January 2006...so watch this space......

Hi Chicken

Are there expected and reliable projections of increased ore sales? If so how much percentage have they placed on volume to increse by for the next 5-6 yrs?

 

[johnno261]

Re: MGX

AGM today !!! Hopefully our "Buy" side can look a little stronger Today, but it is to be expected I guess with Shougang taking up there % of MGX.Manipulation still going on. Would'nt it be great to see that window of opp. for Shougang's Broker dissappear with some really good news that will shoot the S/P up and they can pay more for it, which will benefit the existing shareholders and the PTY LTD!!!!!!!

 

[johnno261]

Re: MGX

Just been reading an actual excerpt from some big name analysts and Brokers regarding the Iron Ore Price Negotiations for 06/07 and quite simply they said prices will increase.
LINK:
Go to HotCopper and the posting was by andrewa under the mgx heading posted in the last couple of days! Interesting reading!!!!!!!!!
A very tight supply of iron ore is the industry standard at present!!!! GOOD!!

 

[chicken]

Re: MGX

Hi Chicken

Are there expected and reliable projections of increased ore sales? If so how much percentage have they placed on volume to increse by for the next 5-6 yrs?

It is well known..and read what the company said that they are stepping up production to 5 million tons read their news....and as Johnno posted that the AGM meeting takes place today some intresting news will come out..someone is keeping this sp to abot 75cto 80cents one does not have to be a rocket scintist it sticks out...as soon as the sp rises a seller comes in something is up we will see today.....also one seller at 68 cents just to keep the price down check it yourself....hoping someone will jump in to sell