MGX 3.39% 30.5¢ mount gibson iron limited

MGX -> 19 bid -> breakout?, page-49

  1. 1,545 Posts.
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    Tokyo, i wouldn't place any emphasis or hope on the court case. It's a recovery action by the insurers - the same group of insurers who are yet to pay out to their client, Mgx. Whilst you can instigate litigation to recover, you can't proceed in to court until you have a quantum (final amount to recover), and as we have discussed, this hasn't been finalised as yet.

    The case will take ages. Mgx have to participate as it would be a policy condition that they assist their insurers to recover - they have been dangled the carrot of more $$$ if further amounts are recovered, but i believe that is just what it is - a dangled carrot.
 
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