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3.39%

30.5¢ mount gibson iron limited

Value Opportunity, page-7

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3,137 Posts.

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22/07/15

09:27

Post #: 15672215
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Originally posted by grandcaruso ↑

I can understand where you are coming , probably feel the same way if i was you but patience is the key now. This saga wont last for ever, they'll either go back to mining ( and start paying a dividend ) or buy another asset ( at distressed prices ) or get bought out ( via private equity ) .

The key is the insurance timing. I'm normally a pessimist but I can only see long term positives here , the only negative left is that the insurance company doesn't payout and one must accept this a small possibility. Even if they were to return to mining they could start production off at levels which suit a lower iron ore price environment then scale up into higher prices if they return.

Once we find out about the insurance and it's positive news , I suspect there are others out there want some of that cash. If management sit on their hands too long after that they will come knocking.

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Good post....MGX certainly ticks all the boxes. Great VALUE bet.

MGX Price at posting: 20.0¢ Sentiment: Buy 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