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MGX - Mount Gibson Iron

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What do people think of MGX's 3 for 1 takeover of ADY

- will they need to inject more cash to sucure the bid?

- if successful will Cambria (?- the British firm with 19% 0f ADY) with 15% of MGX see this as opportunity to launch more bids and rationalise the projects (particularly in the Midwest of WA: MMX, MIS, GBG - MMX's infrastructure would look more realistic if it has more ore to support it..)

thoughts?

MGX @ .76 and ADY @ .24
 
Just wanted to point out that it's AZR, not ADY.
 
Well, it did put a nice floor under the options a week before they expired.

I think that AZR has the pick of the new iron ore projects, high grade iron ore, an experienced management team, no hauling/railing costs and no beneficiation. Production will start late this year and already another iron ore price rise is been mooted from April 1 2007

I intend to hold my 250K share parcel unless the offer gets to at least 30c. At least MGX have divested their magnetite holdings, making their script more palatable, but I'd prefer to take my chances with AZR on a standalone basis

I don't see much benefit for shareholders in iron ore consolidation.
 
MGX are back to the end of February 2005 price at just under 70 cents.

The six month chart shows a strong downtrend that MGX are unlikely to break out of for a long time. The Aztec build up of stock and eventual takeover has taken its toll on Mount Gibson Iron.

Tallering Peak is a current mine that has been producing iron ore at the 3 million tonne per annum rate since Jan 2006, a record. This is compared with original estimates of 1.5 to 2 mtpa. Exports are to China. Two other mines, including Mount Gibson, will together eventually add 6 mtpa to production.

The iron ore price, from hereon in, is the cloud over MGX and other iron ore miners.
 
MGX seems to have successfully broken out of its 6 month downward trend. The resistance line has been penetrated. From a technical point of view, MGX should be on its way up from here. Any opinions?
 
Lucstar said:
MGX seems to have successfully broken out of its 6 month downward trend. The resistance line has been penetrated. From a technical point of view, MGX should be on its way up from here. Any opinions?
Click to expand...
They are increasing their share in AZR and are going up on their back. It proves the point that the directors of AZR have been stressing.
 
nioka said:
They are increasing their share in AZR and are going up on their back. It proves the point that the directors of AZR have been stressing.
Click to expand...

MGX look as if they are in recovery mode and worth looking at.
 
Bought some stock this morning hoping MGX will continue on up. Forecast production levels of 6mtpa are impressive.
 
noirua said:
Bought some stock this morning hoping MGX will continue on up. Forecast production levels of 6mtpa are impressive.
Click to expand...

Hi Noirua,
Where is the announcement that states a forecast of 6mtpa. As far as i can see they are forecasting 3mtpa for 2006/2007?

Champ2003
 
champ2003 said:
Hi Noirua,
Where is the announcement that states a forecast of 6mtpa. As far as i can see they are forecasting 3mtpa for 2006/2007?

Champ2003
Click to expand...
Maybe they are counting the rest as coming from the cheap takeover of AZR?
 
Gallagher Holdings have announced an increase in their interest in MGX to 19.89%.
 
noirua said:
Gallagher Holdings have announced an increase in their interest in MGX to 19.89%.
Click to expand...
Gallagher is a holding Company for a Russian Company. Between Gallagher and Shanghai us aussies won't be left with much of the business.
 
MGX now own more than 50% of Aztec. Hope the end of the takeover bid is near so MGX will stop moving sideways.
 
I was surprised to see it drop today (admittedly low volume). Everyone is talking about more consolidation in junior iron ore companies. Plenty of juicy offerings: MMX, MGX, GRR. I think the russians might just jump in and secure supplies ahead of india and china...
 
Trading halt in place at the moment.
Does anyone have any thoughts on MGX? Another take over on the cards?
cheers marc1.
 
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