MGX - Mount Gibson Iron

Dabas · 28 November 2006

I think it has to do with the AZR takeover.
They are in a trading halt too.

marc1 · 28 November 2006

Dabas said:
I think it has to do with the AZR takeover.
They are in a trading halt too.

Thank you Dabas, I should have checked that myself.
cheers marc1

Dabas · 28 November 2006

AZR board has capitulated and reversed their previous anti-MGX recommendation to its shareholders.

For the time being both shares are dropping in price....

Dabas

chicken · 28 November 2006

marc1 said:
Trading halt in place at the moment.
Does anyone have any thoughts on MGX? Another take over on the cards?
cheers marc1.

Trading halt lifted just bought some more...looks like deal done...MGX next move into ASX200.... valuation $1.25+.....should start moving as instos which buy in the ASX200 will have to buy...good luck to all

laurie · 28 November 2006

After all of this time chicken lets hope we can put the past behind and move on

cheers laurie

nioka · 28 November 2006

chicken said:
Trading halt lifted just bought some more...looks like deal done...MGX next move into ASX200.... valuation $1.25+.....should start moving as instos which buy in the ASX200 will have to buy...good luck to all

It is the AZR holders who are going to miss out. The Mgx holders will get the benefit of the AZR production about to start. The foreign investors will be the main ones to gain (And another aussie company gets sold out cheap).

noirua · 1 December 2006

Once MGX get the Aztec problem out of the way the stock should move on strongly from here.

nioka · 1 December 2006

noirua said:
Once MGX get the Aztec problem out of the way the stock should move on strongly from here.

If it does it will be because of the value of AZR production. I wish AZR could have the problem of Mt Gibson out of the way. My AZR shares are not for sale yet.

Broadside · 1 December 2006

nioka said:
If it does it will be because of the value of AZR production. I wish AZR could have the problem of Mt Gibson out of the way. My AZR shares are not for sale yet.

relax nioka you get paid a premium for the AZR shares and your new MGX shares will also get taken out by another takeover, just a matter of time

haemitite · 2 December 2006

What premium may that be?

I don't intend to accept either, firstly as being a PMM minority holder has worked out pretty nicely, secondly as even if I wanted to accept I wouldn't till I knew there was script roll over relief.

My understanding is that any AZR shareholder who exercised the 17c options mid-year will be facing full capital gains tax on those exercised options unless the 80% acceptance condition (for rollover relief) is met

noirua · 11 December 2006

MGX have increased their holding in Aztec Resources to 73.17%.

noirua · 15 December 2006

noirua said:
MGX have increased their holding in Aztec Resources to 73.17%.

The move to an 87.15% holding in Aztec puts the 90% target all but in the bag.

chicken · 15 December 2006

noirua said:
The move to an 87.15% holding in Aztec puts the 90% target all but in the bag.

soon to see $1+....as its becoming clear takeover just a matter of time...good luck to all holders....

noirua · 15 December 2006

chicken said:
soon to see $1+....as its becoming clear takeover just a matter of time...good luck to all holders....

Not sure about the takeover bit, haven't heard anything. On the matter of price you may well be proved to be spot on. Good Luck.

haemitite · 15 December 2006

I'm a bit surprised that the retail investors have so quickly fallen into line behind the directors given the protracted and often bitter takeover

AZR may be 50% up on the pre-bid price but that probably would have happened with first shipments anyhow. I repeat that the AZR directors put up a woeful defence.

But looks like my AZR stock will soon be Mt Gibsons, I will take some profits at that stage.

Maybe PMM are worth a few more, they are trading at about the same PE as ZFX. Remarkable for a low risk commodity like iron ore.

noirua · 20 December 2006

Russian Iron Ore Baron, Alisher Usmanov, who has built a holding of 7% in Aztec, is thought to be holding out against MGX's hopes of reaching a 90% holding.

haemitite · 20 December 2006

Thanks for that

I was surprised that MGX had made so little headway in the last couple of days, your post adds some background

Still holding my 250,000 AZR at this stage

chicken · 20 December 2006

haemitite said:
Thanks for that

I was surprised that MGX had made so little headway in the last couple of days, your post adds some background

Still holding my 250,000 AZR at this stage

MGX now owns 88.89%.....so only 1.11% to go....looks like its in the bag..

YOUNG_TRADER · 20 December 2006

MGX selling RMI, sold 5m at 0.055

Interesting

shinobi346 · 20 December 2006

Locking in profits maybe? Looking at the charts, it is at a all time high.

MGX - Mount Gibson Iron

Similar threads

Privacy & Transparency

Privacy & Transparency