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3.39%

30.5¢ mount gibson iron limited

The cash balance is a huge anchor as it dwarfs the underlying...

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saracenm

213 Posts.

18

09/01/18

21:21

Post #: 30174245
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Originally posted by Mongrel ↑

MGX is a fairly steady company, but with no vision or dreams. It will mine IO pretty well, but in the gloomiest of the resources recession, they couldn't find a single, good value project to invest in. That opportunity is pretty much gone (though never say never) and its back to the mine face.

The IOP is doing well and has been sustained for an extended time - better than I had predicted. No doubt, a dip will come during the Chinese NY. While some are predicting it going back to sub US$50/t, I don't believe that will be the case. But it will show weakness through 2018. MGX a 3 bagger from here? Slim chance. A 2 bagger? Quite likely. It all depends on their next report and what their revenues are (in the past MGX's revenues have been well below the spot price - but that's another long story and one that has been covered well in is forum.)

The depreciating US$ is not doing it any favours (and is why the IOP is going up, not so much fundamental demand, though that's there as well). The Aussie up 10%, the IOP up 10%!

Good luck to all, theres still some blue sky in this one.

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The cash balance is a huge anchor as it dwarfs the underlying equity.

Hard to see big movements up or down from here.

MGX Price at posting: 47.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 30.5¢		Change 0.010(3.39%)		Mkt cap ! $365.5M

Open	High	Low	Value	Volume
29.5¢	30.5¢	29.5¢	$42.02K	139.7K

Buyers (Bids)

No.	Vol.	Price($)
2	104867	30.0¢

Sellers (Offers)

Price($)	Vol.	No.
30.5¢	355340	6

View Market Depth

No.	Vol.	Price($)
1	37120	0.920
3	45770	0.915
3	31253	0.910
3	68342	0.905
2	44392	0.900

Price($)	Vol.	No.
0.925	15328	2
0.930	89494	6
0.935	70442	3
0.940	72592	7
0.945	128342	5

Last trade - 16.10pm 29/11/2024 (20 minute delay)

MGX (ASX) Chart