MGX - Mount Gibson Iron

RichKid · 30 June 2005

Re: MGX

chicken said:
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

Yes, I agree, that was my point, when you use certain words it suggests people are something substandard (it creates a stereotype- like saying all Chinese drivers are bad drivers (eg saying 'bloody Asians' when they cut across you at the lights or that European born Australian's aren't as good as maths as Chinese born Australians- generalisations often show a lack of knowledge or understanding), sometimes we get into bad habits with our descriptions. A country like China couldn't be the centre of global economic interest without having the brains to make it so, there is also the rich cultural tradition and history which most individual countries cannot rival. They are not perfect but that doesn't mean they are the opposite either.

Some people say the Chinese just work harder (that is a virtue in itself- being assiduous) but they also have to have brains to go the distance, as does any human being. It doesn't help to stereotype something when we can't understand its complexity.

Okay, will end this little tangent, back to the stock. Johnno, this post is no criticism of you.

johnno261 · 30 June 2005

Re: MGX

RichKid said:
Yes, I agree, that was my point, when you use certain words it suggests people are something substandard (it creates a stereotype- like saying all Chinese drivers are bad drivers (eg saying 'bloody Asians' when they cut across you at the lights or that European born Australian's aren't as good as maths as Chinese born Australians- generalisations often show a lack of knowledge or understanding), sometimes we get into bad habits with our descriptions. A country like China couldn't be the centre of global economic interest without having the brains to make it so, there is also the rich cultural tradition and history which most individual countries cannot rival. They are not perfect but that doesn't mean they are the opposite either.

Some people say the Chinese just work harder (that is a virtue in itself- being assiduous) but they also have to have brains to go the distance, as does any human being. It doesn't help to stereotype something when we can't understand its complexity.

Okay, will end this little tangent, back to the stock. Johnno, this post is no criticism of you.

I don't see this post as a critisicm of me, but of a correction of your poss. lack of knowledge towards the Chineese,RichKid.As mentioned, these Chineese are no silly people!!!!

el_ninj0 · 25 July 2005

Re: MGX

Anyone else seeing some unusual info from comsec this morning on this stock?
By unusual I mean, currently the BID and OFFER prices are clearly 63 and 63.5 respectively, however, Comsec is only showing them as 61.5 and 62.

johnno261 · 25 July 2005

Re: MGX

el_ninj0 said:
Anyone else seeing some unusual info from comsec this morning on this stock?
By unusual I mean, currently the BID and OFFER prices are clearly 63 and 63.5 respectively, however, Comsec is only showing them as 61.5 and 62.

What I did see that was unusual today with MGX was that it went up!!!!! Hoorah Hoorah. El ninjo, hopefully Sinom have offloaded all that they wish to dispose and now we can expect strong buying from Shougang and traders in anticipation to what will be an outstanding quarterly,then followed up with a huge profit increase of maybe 700% which would equate to roughly 25 million profit as opposed to last year full financial profit of 3.5mill.
Wednesday is looking like going to be a great day!!!!
Cheers

el_ninj0 · 25 July 2005

Re: MGX

johnno261 said:
Wednesday is looking like going to be a great day!!!!
Cheers

Wednesday hey?, Can you direct me to the announcement which refers to this date please?

johnno261 · 26 July 2005

Re: MGX

el_ninj0 said:
Wednesday hey?, Can you direct me to the announcement which refers to this date please?

The last 1/4 reports with MGX have normally come out in the last few days of July. Common knowledge of MGX, no announcement to refer from.

el_ninj0 · 26 July 2005

Re: MGX

Good finish on todays price, closed at a high of the day on 66.5cps.
Lets see what tommorow has to offer.

johnno261 · 26 July 2005

Re: MGX

el_ninj0 said:
Good finish on todays price, closed at a high of the day on 66.5cps.
Lets see what tommorow has to offer.

Yes MGX looked really good today and finished strong with obvious knowledge of a good quarterly near and from that quarterly we will be able to ascertain possibly of how good the full year will be. This is my assumption, but I think the full year profit for MGX will be up possibly 700% to maybe 22 - 25million dollars as compared to MGX's last years profits of 3.5million!! 2006's full year profits will be a different story again,hence the full year of 71.5%rise as opposed to 3 months of this year at the new price!!
We are in for some really good times ahead with this company.I am excited!!

profithunter · 26 July 2005

Re: MGX

MGX is behaving very well, it has bounced off its resistance levels at .60 but needs to bust through .70 before there is any major upside.

el_ninj0 · 27 July 2005

Re: MGX

Not such a great behaviour today on the news of the report. Any ideas why? I thoguht 23.2 Million dollars profit after tax was a good result, but hey, i could be wrong?

johnno261 · 28 July 2005

Re: MGX

el_ninj0 said:
Not such a great behaviour today on the news of the report. Any ideas why? I thoguht 23.2 Million dollars profit after tax was a good result, but hey, i could be wrong?

My humble opinion is that dummy sells are retaining the price down for accumulation reasons!! Just my thought. Without sounding like i am blowing my own trumpet, but how true i was in stating such a great profit reportto follow, but this is only what's to come and when the true market can get their stupid heads around the income this company will be earning in years to come, you and I will be saying instead of buying only half a million units of this, I should have purchased 1 million units!That's my honest belief!!
Cheers

el_ninj0 · 28 July 2005

Re: MGX

Wish I had the money to buy half a million,
I'll stick with what i have for now. But i agree johno, its definetely going to be worth alot more in the short future to come.

chriswillz · 30 July 2005

Re: MGX

Hi
I'm a holder of MGX. Answer me this.....

Why would a company say its Quarterly report is comming out and not post it?

This is not a good sign

Chris

markrmau · 30 July 2005

Re: MGX

Was released 4.33pm 29/7/05.

ASX website seems to be down. Hope you don't mind me posting it here Joe - only 43k though. Maybe it can be deleted next week.

I don't hold, but I think there could be an over reaction on Monday. I will look to buy in at some stage over next few weeks.

johnno261 · 31 July 2005

Re: MGX

el_ninj0 said:
Wish I had the money to buy half a million,
I'll stick with what i have for now. But i agree johno, its definetely going to be worth alot more in the short future to come.

El Ninjo, I am kickin' back around the other side of the world reading my emails, and happily recieved an attachment from a good reliable mate of my that sometimes posts on this site. Shaw's Brokers did indicate in their morning notes during the past few days,that MGX is valued @ $1.72p/s. I try not to get too carried away with these Brokering recommendations, but it just re confirms why we are so Bullish on this stock!! Fundamentals. I know frustrating @ present, but i can say frustration won't linger for long.This stock will be a life changing stock for me no doubt and good luck to those that hold,as you will be rewarded!!
Cheers
Johnno

TheProphet · 31 July 2005

Re: MGX

Hi Johno
Are you aware that Shaw holds something like 60mill of these? From what I can see Quaterly report looks slightly under the anticipated standards. However target of $1.20-$1.50 is still a chance.

el_ninj0 · 1 August 2005

Re: MGX

Personally Im going for the long hawl on these guys, they have just made their first profit, and a good one at that. Although as prophet said, slightly under exepectation. However, since they have just made there first profit, they are well on track to further profits. It will only increase from here on, unless of course the unexpected happens.

In 5-10 years, they will be another big player in the field, much like bhp of today. They are in a good position now to gain some short term rise per share, how fast it happens is what we dont know.

johnno261 · 2 August 2005

Re: MGX

TheProphet said:
Hi Johno
Are you aware that Shaw holds something like 60mill of these? From what I can see Quaterly report looks slightly under the anticipated standards. However target of $1.20-$1.50 is still a chance.

Fully aware that Shaw's hold a big parcel, hence my recent comments to El Ninjo, "I don't get too carried away with these Broker recommendation", hence Conflict of Interests!! Correct. What does excite me is this Company meeting time frames which then carries thru to forecast profits being made which in turn meets profit expectations, cause as we know, the market magnifies negative news more than probably should.
Cheers
Johnno

TheProphet · 2 August 2005

Re: MGX

You are right. This isnt a short term trade. Just wondering what annoucements will spark some enthusiam? One would have assumed the recent Chinese developments would have got the ball rolling.

Cheers

el_ninj0 · 2 August 2005

Re: MGX

TheProphet said:
You are right. This isnt a short term trade. Just wondering what annoucements will spark some enthusiam? One would have assumed the recent Chinese developments would have got the ball rolling.

Thats funny you mention that Prophet, the chinese developments as you say should have done something for this, on the day those annoucements were made, the immediate price of the share was 75cps on open, after a close of 68cps the previous trading day. Yet by the end of the day, the price per share had dropped -2 cps on the previous days trading value. Which only leads me to beleive there are some people out there that are somehow disgruntled with MGX and are overselling it.

Also, just as a footnote, that seller at the 68cps mark with 1,000,000 shares is back on the board. I wonder why he/she didn't sell at the high that day of the announcement?

MGX - Mount Gibson Iron

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