MGX - Mount Gibson Iron

[chicken]

Laurie
ASX price queries are great news in this case as investors will be "looking" for something from the company.
I think the share price momentum for iron ore producers has simply flipped north with mooted higher ore prices - unfounded rumours?
In any event, MGX has a "darling" status amongst the juniors and needs very little good news (or no bad news) to keep it ticking along.
Don't get angry, get more - MGX that is!
The dollar price barrier should crumble decisively in the weeks ahead.

I do agree with Laurie, and I know where he is coming from...Huntleys valuation is $1.25....shaws is higher and this stock had been capped by a broker the true price is over $1.25 and under $2....so we have been told by experts and anything under $1 is very cheap....not my opinion but see the research on their webside...and being a producer adds value to the stock...unlike CAZ..and some other iron hopefulls....they should have a speeding ticket....whereby MGX has everything going for it now yes, $1+ is in the cards next week....as the capper cant keep up with the intrest in this stock....now with a volume spike we will see mgx over $1 next week....great volume on friday and good luck to all holders looks like Shougan will come to the party........great for MGX

 

[Mofra]

FMD!! MGX hit by a price query by the ASX this evening where were the prick$ when the price was being played around by certain investors give me a f%^k break :swear: :swear:

cheers laurie

Interesting that even with the price rise, MGX is trading on a PE discount to the market average yet the ASX still see fit to issue a query notice. This discount is even more pronounced if you take the projected full year figures for the 2006 tax year.

I'll just scratch my head, laugh and keep smiling as a LT holder

 

[Broadside]

Bit of a joke isn't it? Uranium speccies go up 50% in a day and no speeding ticket....something is clearly up with WME last 2 weeks everyone is talking of an announcement and the price reflects this, no speeding ticket....but MGX surges a little and gets queried.

Hey does anyone know if the Chinese have a deadline on the magnetite decision? The article I posted the other day says it is April but I can't find hard evidence of this from the company's announcements....

 

[el_ninj0]

Hey does anyone know if the Chinese have a deadline on the magnetite decision? The article I posted the other day says it is April but I can't find hard evidence of this from the company's announcements....

Yer i was looking for the announcement the other day aswell Broadside. It took a bit of searching but its the announcement on the 22/02/2006 12:08PM
as on comsec titled: Progress on Extension Hill Magnetite Project.

I was also searching for the announcement which described in detail how much shougang were intending to purchase, but i couldn't find it anywhere. Let me know if you know which one it is please.

 

[Broadside]

check announcement 15 September 2005 chicken

yes the 22 Feb refers to engineering within 2 months but did not say that was a firm deadline, and no mention of 30 April?? I wonder where that date came from. Shaw Stockbroking? has anyone seen latest research from Shaws as opposed to the year old broker report on the mt gibson website?

 

[el_ninj0]

check announcement 15 September 2005 chicken

yes the 22 Feb refers to engineering within 2 months but did not say that was a firm deadline, and no mention of 30 April?? I wonder where that date came from. Shaw Stockbroking? has anyone seen latest research from Shaws as opposed to the year old broker report on the mt gibson website?

AIHL and Shougang, the two potential participants in the development and operation of the
Extension Hill mine, concentrator and associated slurry pipeline transport system to the Port of
Geraldton, must commit in-principle to participation in the project by 30 April 2006.

As in the 22nd feb 2006 announcement.

 

[Broadside]

yeah! thanks I should learn to read more carefully

 

[el_ninj0]

yeah! thanks I should learn to read more carefully

Everyone makes mistakes from time to time alan.

 

[Broadside]

I answered my own question now on hc I have to get back to looking at the fundamentals it was a no brainer at 70 cents but now it is closer to a dollar these projects become much more important for future price appreciation....at $1.00 I think MGX is much closer to fair value for its haematite.

 

[laurie]

Well Oxiana went the very same way .90c one minute $2.99 next minute my god when the train pick ups speed it's NORTH POLE next stop

oh by the way my anger with the ASX about price query is why do they not query companies when the price drops! what .....don't they think there's inside info when everyone's jumping off the Titanic :swear:

cheers laurie

 

[el_ninj0]

oh by the way my anger with the ASX about price query is why do they not query companies when the price drops! what .....don't they think there's inside info when everyone's jumping off the Titanic :swear:

Ive thought exactly the same thing laurie, its only when people make money and not when they loose it they expect something is going on. The problem is, its usually the people that have the big parcels that make everyone else lose the money in the first place!

 

[roger_leong]

1519 [Dow Jones] Tolhurst Noall broker Marcus Padley warns of uranium "hot
potato" after recent hype of agreements with China dies down. Points out primary
industry minister Macfarlane's comment that significant uranium exports to China
unlikely to start until 2010 and any new mines will need government approval.
"As soon as the hype dies down, the volume and volatility will drift away, the
trades will be closed out and those who imagined more than a trade will be left
holding the cooling potato," says Padley. Still, rally hasn't finished yet, with
junior uranium explorers like Marathon Resources (MTN.AU) up 27%, Toro Energy
(TOE.AU) up 22%, Extract Resources (EXT.AU) up 22%, Southern Gold (SAU.AU) up
13%, Quantum Resources (QUR.AU) up 18%. (DWR)

 

[el_ninj0]

1519 [Dow Jones] Tolhurst Noall broker Marcus Padley warns of uranium "hot
potato" after recent hype of agreements with China dies down. Points out primary
industry minister Macfarlane's comment that significant uranium exports to China
unlikely to start until 2010 and any new mines will need government approval.
"As soon as the hype dies down, the volume and volatility will drift away, the
trades will be closed out and those who imagined more than a trade will be left
holding the cooling potato," says Padley. Still, rally hasn't finished yet, with
junior uranium explorers like Marathon Resources (MTN.AU) up 27%, Toro Energy
(TOE.AU) up 22%, Extract Resources (EXT.AU) up 22%, Southern Gold (SAU.AU) up
13%, Quantum Resources (QUR.AU) up 18%. (DWR)

Thanks for the post roger, if you would be so kind to explain to us what exactly this has to do with MGX?

 

[chicken]

1519 [Dow Jones] Tolhurst Noall broker Marcus Padley warns of uranium "hot
potato" after recent hype of agreements with China dies down. Points out primary
industry minister Macfarlane's comment that significant uranium exports to China
unlikely to start until 2010 and any new mines will need government approval.
"As soon as the hype dies down, the volume and volatility will drift away, the
trades will be closed out and those who imagined more than a trade will be left
holding the cooling potato," says Padley. Still, rally hasn't finished yet, with
junior uranium explorers like Marathon Resources (MTN.AU) up 27%, Toro Energy
(TOE.AU) up 22%, Extract Resources (EXT.AU) up 22%, Southern Gold (SAU.AU) up
13%, Quantum Resources (QUR.AU) up 18%. (DWR)

MGX are iron ore producers...who is thinking Uranium..do your research as MGX is a pure Iron play....just goes to show people invest and dont know what they invest in...MGX was grossly undervalued and has been capped by a broker it now has broken out and huntleys value is $1.25...but the stock could go as high as $2....as soon as Shougan takes up its shares stock will move to $1.50....MGX are making the $$$$$ not burning money and we are not talking hype here see MGX website and their are reports what has been happening....I'd rather have MGX...producers than a lot of other shares which have NO production..I am in for the long term..and its looking better every day....and as soon as the Chinese take up their shares see the stock move quickly...why did the Hong Kong broker buy all the MGX shares lately..they know what will happen...when everyone sold THEY BOUGHT...and have now 10% of MGX.....Shougan must know the potential and I would say come the 30thApril it would not surprise that they will proceed WHY,....they need Iron ore....and if they have a hand in production...they make money both ways...on the mining of the ore and on the manufacturing of steel...plus they may get a discount from the mine...so its a win win situation for SHOUGAN...I can see it going ahead

 

[markrmau]

You're slipping chicken. You forgot to tell anyone saying anything negative about mgx to buy caz.

Also chicken. Run your eye over GRR. You may like what you see, but with a bit of luck, you may pick some up for less than 1.60ish...

 

[shinobi346]

Price has stagnated. I wonder why.

 

[Broadside]

it probably needed to consolidate a little it was quite a run from the high sixties in a short space of time....and the market awaits news on (1) iron ore price (2) magnetite Shougang deal (3) pellet plant....

that is what I am hoping anyway :

 

[Lucstar]

Holy sh*t! Talk about luck being on my side. I sold out yesterday at 99.5c and got back in today at 92.5c.

 

[shinobi346]

Went up and down like a yo-yo yesterday. I topped up at 88c. Holding on for the long term. //thumbsup

 

[Porper]

Went up and down like a yo-yo yesterday. I topped up at 88c. Holding on for the long term. //thumbsup

I sold out early last week but bought back a few on Thursday only for the price to gap way below my stop, so lost out this time.Still been a excellent trade over all.

Thinking seriously about shorting this stock now after the terrible results, see how Monday goes but I feel the tide has turned now.