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MGX - Mount Gibson Iron

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Re: MGX


Good little article there on HotCopper johno. I wonder if they will mention the iron ore price rises in the AGM today. Is anyone going? Will be interesting to see the result of the AGM.

Looks like there is increased buying out there already at the moment. MGX is up 2cps currently.
 
Re: MGX

AGM presentation out after market.Everything look good. 3m tonnes next year at higher prices and all the ongoings make this stock look cheap at present. Talk about Brazils CRVD wanting to take aquisitions in the Iron Ore Sector in Australia. A poss. T/O target?
 
Re: MGX

Well what do you know read what I said in post 207.....I sometimes see things which by looks of it was right on the button....great news...the buyers will start looking now.....goodunyou Johnno
 
Re: MGX

These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.
 
Re: MGX

wags said:
These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.
Click to expand...

Don't worry wags, it's just our resident jnr resources punters getting excited with Mr 'make your own research' Chicken leading the pack! (was it fleeta that coined that term for chicken?).

Incidentally, that quote from Newton, which I love, is a result of the South Sea Bubble (lots of good books on it), found this on the web, thanks for posting it, a timely warning in times of euphoria:

"I can calculate the motions of the heavenly bodies, but not the madness of people."
Isaac Newton, after losing his savings in the South Sea Bubble of 1720.
 
Re: MGX

wags said:
These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.
Click to expand...
Whatever..I just pointed out that The Big Brazilian is looking at MGX....which it is....now what do you know......as a partner they would turn this company on its head...unlimited money there for whatever... I might be wrong...but the Chinese connection once its all sorted should spurn this share a lot higher.....as well...so its a win...win situation whatever happens.
 
Re: MGX


I ask the question,"Would CRVD take over BHP?" Doubt it
"Would CRVD take over RIO?" Doubt it
3rd in line would be Portman, na US mob Cleveland now in ownership!!
4th largest current producer earning serious profits MGX?
AZR they are strugglin to even start an operation.(Not in production)
FMG a possibility(Not in production for a few years,30months or so)
MMX another possibility(Not in production for sometime)
Who knows!!!! What I do know is that S/P movement is not far off and the Chinese interest is what excites me, with big capital behind them!!!!
 
Re: MGX

Is anyone here bold enough to suggest what price it can reach in the short term!!

cheers laurie
 
Re: MGX

laurie said:
Is anyone here bold enough to suggest what price it can reach in the short term!!

cheers laurie
Click to expand...

Would be silly for any of us to start predicting.We are in the hands of the brokers at present with the manipulation and accumulation scenarios being played out!!!!
 
Re: MGX

Here's some scribbling on charts for those who like technical views. Next week will be pivotal as it's near the end of the triangle. The charts are of the top of a formation which culminated after a very strong move from very low prices, so penny stocks do get on with it from time to time, and in a big hurry as this one shows.
 

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Re: MGX


Thanks RichKid for your charts.Always good to peruse at everybodys parts of the jigsaw puzzle!!!! Thanks Regards Johnno
 
Re: MGX

Rich kid thanks for the charts...why I say its going up...well the Chinese are now taking a positive position..and whoever is been taking a position since March..all will be revealed as they have a positive cashflow...and are now gearing up to deliver 5 million tones p/y in iron ore to China all I can see it is positive for MT gibson iron ore....so as far as I can make out its positive for the company also see their latest announcements its looking good
 
Re: MGX

Fairly low volume today and not alot of change, down 1c at close at 79.5cps.
Not much to comment on, AGM went fine, with one slight hickup(3mpta set back to mid 06 instead of early 06), but all seemed according to plan. Cant see why it hasn't really moved yet, disapointing really....
 
Re: MGX

Don't worry, Nanjing pellet thingy coming up. Should bump trading range up to 88-95 cps. I think there still be good demand for iron ore next year. Everyone is over producing steel.... The Chineese are trying to talk prices down, but if they don't like futures prices, tell them to buy on the spot market LOL.
 
Re: MGX

El ninjo...somone has set a bear trap as soon as the Chinese on board which looks all set to go SP should move for us in the right direction...like gold which if you look at Kitcometals is going higher today....this is a bear trap....I am holding and when it moves it will rise quickly.....
 
Re: MGX

I've read some conflicting reports. Proponents to shares like MGX are stating that iron ore prices will definitely increase. Whereas the opponents seem more sceptical to this notion and argue that iron ore is overpriced.. Chicken, or others could you point me to a recent assesment which states iron ore prices are due to peak in the future..

Regards
 
Re: MGX

powwww said:
Chicken, or others could you point me to a recent assesment which states iron ore prices are due to peak in the future..
Regards
Click to expand...

There is a thread I started on ASF in General Chat on the Commodities Super Cycle, one of the analysts I refer to (A commodities bull who manages a listed commodities funds: read that as 'biased') in that thread says most analysts understimate iron ore price rises.

My issue is not with whether or not the iron ore prices will rise but what the sp will do (it may have factored it in already), remember, charting wise as Dow said, the charts discount everything (or something to that effect). Still, it's in an uptrend and hasn't broken support.

Glad you liked the charts johnno/chicken, still no long signal for me. BTW, if anyone has fibonacci tools might be helpful to post a chart with the levels shown.
 
Re: MGX


Powwww, clearly everybody has underestimated Iron Ore Prices, and secondly a big underestimation of China's Growth!!!
As for Iron Ore being overpriced, the demand for the material will dictate that!!! The fact that there are only 3 Big Time Company's -RIO,CVRD,BHP, that supply a big slice of the worlds Iron Ore, they in essence have a monopoly on the market! Supply is in their hands!!!!
 
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