MGX - Mount Gibson Iron

[Mofra]

Re: MGX

Well the after market ann settles it,

Further funding of Argyle Iron Ore project via RMIs placement, glad to know it isn't an MGX placement, suspected there was a chance for the slurry pipeline but they will have some capital injection when the October options are exercised (MGXO).

 

[el_ninj0]

Re: MGX

Well the after market ann settles it,

Further funding of Argyle Iron Ore project via RMIs placement, glad to know it isn't an MGX placement, suspected there was a chance for the slurry pipeline but they will have some capital injection when the October options are exercised (MGXO).

In english please?

 

[el_ninj0]

Re: MGX

As todays announcement was released to the market. The balance was clearly in the sellers hands, however when the market opened for trading, alot of overselling was seen in the low 70's, which led to buyer backdowns. In other words, the sellers saw it as a fast buck and have oversold beyond the value of the shares.

My prediction for this is that it will cause the buyers from today to mark up value on their stock and lead to a sharp increase in the sp of this security.

The announcement of a Shougang partnership puts MGX in an extremely strong position in china, with massive potential to increase the value of MGX as a whole.

 

[profithunter]

Re: MGX

As todays announcement was released to the market. The balance was clearly in the sellers hands, however when the market opened for trading, alot of overselling was seen in the low 70's, which led to buyer backdowns. In other words, the sellers saw it as a fast buck and have oversold beyond the value of the shares.

My prediction for this is that it will cause the buyers from today to mark up value on their stock and lead to a sharp increase in the sp of this security.

The announcement of a Shougang partnership puts MGX in an extremely strong position in china, with massive potential to increase the value of MGX as a whole.

Do you own this stock?

 

[el_ninj0]

Re: MGX

Do you own this stock?

Indeed I do. I dont think i'd follow a stock this closely unless I owned it or was thinking about buying it.

 

[profithunter]

Re: MGX

Yeah I thought so, the way you are talking the stock up

 

[el_ninj0]

Re: MGX

Yeah I thought so, the way you are talking the stock up

It was not the intention to talk up the stock. Im looking for other peoples opinions on this also, feel free to give me your opinion or correct in any way you like, im open to other peoples views on this subject.

 

[profithunter]

Re: MGX

I've placed a bid at .61, it seems to have support at that level...of course I'm looking at it purely as a technical trade but the announcement certainly adds to the long term positives for mt gibson

 

[chicken]

Re: MGX

reading this morning in the paper....the chinese have taken a 50% equity share in this company...so its all go will rise in value here I will now invest as this is an all go company...maybe they will get some chinese miners as well...the chinese are taking a seat on the board...watch this stock

 

[Mofra]

Re: MGX

reading this morning in the paper....the chinese have taken a 50% equity share in this company...

Is this what you were talking about?

Date: 24/6/2005
Author: Robin Bromby
Source: The Australian --- Page: 25

Australian mining company, Mount Gibson Iron, has found a Chinese partner. Shougang Group, the fourth-largest steel maker in China, will pay $A135 million for a stake in Mount Gibson's magnetite pellet iron ore project. Shougang will gain ownership of 50 per cent of the magnetite deposit in Western Australia and 13 per cent of the company, giving it a seat on the board. The magnetite will be mined and processed and sent as a slurry by pipeline to Geraldton. A pellet plant will be build in China.

MGX has done very well in the past 12-18 months forming joint ventures with Chinese companies (eg The Extension Hill transaction which gave it 54% of Aisa Iron Holdings, now 61%) to ensure delivery partners in China are assured for all ore mined. IMO this latest development continues the trend on mutually beneficial agreements with interested parties, to me it displays management savvy.

 

[chicken]

Re: MGX

Is this what you were talking about?

Date: 24/6/2005
Author: Robin Bromby
Source: The Australian --- Page: 25

Australian mining company, Mount Gibson Iron, has found a Chinese partner. Shougang Group, the fourth-largest steel maker in China, will pay $A135 million for a stake in Mount Gibson's magnetite pellet iron ore project. Shougang will gain ownership of 50 per cent of the magnetite deposit in Western Australia and 13 per cent of the company, giving it a seat on the board. The magnetite will be mined and processed and sent as a slurry by pipeline to Geraldton. A pellet plant will be build in China.

MGX has done very well in the past 12-18 months forming joint ventures with Chinese companies (eg The Extension Hill transaction which gave it 54% of Aisa Iron Holdings, now 61%) to ensure delivery partners in China are assured for all ore mined. IMO this latest development continues the trend on mutually beneficial agreements with interested parties, to me it displays management savvy.

That is right....looks like this share will go higher

 

[johnno261]

Re: MGX

That is right....looks like this share will go higher

In agreeance with you Chicken Man/Lady. It also gives us a peace of mind that a big company coming out of China, is aware of their own country's needs, hence no slow down to the amount of Iron Ore required for the country's infrastructure!! You ask is I would, why would they "shagging Co.China" invest hundreds of millions of dollars into something like MGX if they thought themselves that their needs are cooling off!!! The Chows are not at all silly people!! Yes I have held this stock for some time, however at todays trading levels i do consider a good buy!Does'nt appear to be any down side. Magnetite BFS due August.

Just my thought for the day!!

 

[el_ninj0]

Re: MGX

Looking good at todays close. It didn't close on the high of the day, so im unsure of tommorows outcome, however, a 7% gain in a single day without some kind of news is a little unusual.

Anyone elses thoughts?

 

[johnno261]

Re: MGX

Looking good at todays close. It didn't close on the high of the day, so im unsure of tommorows outcome, however, a 7% gain in a single day without some kind of news is a little unusual.

Anyone elses thoughts?

Good day of trading indeed!!! I would expect a good day on the asx tomorrow with the end of the fin year drawing near. I really think El Ninjo, that it's taken a week for the latest submission of reports from Mr.Johnson's switched on Company, for poss. the Institutions and traders to digest the positive impact that China's 4th largest Steel producer has jumped on board the train to Mount Gibson!! I am in no doubt that we are about to see a fair bit of movement on this stock!!

 

[profithunter]

Re: MGX

I've jumped on the MGX rollercoaster...I'm in profit already after todays gains.

 

[RichKid]

Re: MGX

The Chows are not at all silly people.

Johnno261 and anyone reading,
Be aware that language of the type used above is unnaceptable on these forums, it is considered derogatory and offensive and is not appropriate. Please familiarise yourself with the forum code of conduct. Using names like that is unnecessary. I am surprised that you use that word when you have acknowledged a simple truth in that very sentence. No race or culture should be treated in that off-hand manner purely because of the fact that they are not from our own. We need to maintain a basic standard of decency here- there are other forums for those who prefer lower standards.

 

[el_ninj0]

Re: MGX

Johnno261 and anyone reading,
Be aware that language of the type used above is unnaceptable on these forums, it is considered derogatory and offensive and is not appropriate. Please familiarise yourself with the forum code of conduct. Using names like that is unnecessary. I am surprised that you use that word when you have acknowledged a simple truth in that very sentence. No race or culture should be treated in that off-hand manner purely because of the fact that they are not from our own. We need to maintain a basic standard of decency here- there are other forums for those who prefer lower standards.

I'll second that, well said.

 

[johnno261]

Re: MGX

It takes a man to say sorry, as I do apoligize now. No bad intentions wer'e meant. I acknowledge that this may have been offensive, but more than anything I was making a claim of respect, That the Chineese are not silly people!(My wording should have been different) I travel the world every year and I always stop thru that part of the world because of my love for their culture,people,food, etc etc.
Have a nice day Richkid !!!!!!

 

[RichKid]

Re: MGX

It takes a man to say sorry, as I do apoligize now. No bad intentions wer'e meant. I acknowledge that this may have been offensive, but more than anything I was making a claim of respect, That the Chineese are not silly people!(My wording should have been different) I travel the world every year and I always stop thru that part of the world because of my love for their culture,people,food, etc etc.
Have a nice day Richkid !!!!!!

Hi Johnno,
Apology accepted! I'm glad you didn't mean to be offensive. Anyone else reading, please be careful about the terms you use. This applies to everyone equally so please report any posts of that nature.

 

[chicken]

Re: MGX

Rich Kid....the Chinese are way ahead of the eight ball believe it...had a lot to do with them in NZ....they are more clever in business and work, than any European I have known, they work>>>>12 hours a day,and their only downfall is gambling....they love it more than anyone I have known...As with the stockmarket they just love it...they are loyal to their workplace and if they make a friend with you its for life...got a lot of time for them as we Europeans became LAZY...most of us rather go fishing or looking at sport...a lot of us have forgotten how to work ..whereby the Chinese have just discovered the sweet success of having $$$$ whereby most young people here expect everything on a plate....thats the difference between the Chinese....when the farmers need labour here they cant get them...they should bring them here as there is plenty of work...but no one wants it...as far as GMX they are good for the company...yes the share will go higher as work and money are 2 items the chinese value and they will make it happen..I will buy more shares at present prices