Imo, for Mgx, a 5% rise is something to celebrate.....!!!!...

Imo, for Mgx, a 5% rise is something to celebrate.....!!!!

Uncertainty over whether these io price increases will hold - i would think that would be the reason in a nutshell, St78.

So at Chinese NY Mgx was losing money from Extension Hill and they probably only got in front of expenses over the last 2 weeks with these io price rises. Remember the aud has also firmed since the io price started rising so that takes a little gloss of the io price increases.

What Mgx need is stability of the price at the current price for an extended period so they make $$$ at Extension Hill, to get them through to the expansion at Acacia East (Koolan) either this month or next, and also a definitive decision on the main pit sea wall. It's all about Koolan - the decision there will be the one to move the market. If you have any doubts check out the grades they were getting from the main pit - 65-66%fe with low impurities and geographically closer to China for shipping costs.... At Extension Hill they are struggling to get 57%fe.....

The Business Interruption insurance payout, if and when it is settled, will be nice but won't move the market.

And as we have debated, who knows what's in their mind re acquisitions.....

GLTAH.