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The Barbarian Investor
22nd-February-2005, 10:11 AM
Dont you wish you had a crystal ball, i was going to buy-into MGX on the 5th December at around 23c..

Have a look at it now!

Do you have any stocks that you were tracking or contemplating buying over the last few months, that you thought..'if only' ??

chicken
23rd-February-2005, 06:07 PM
SEE, what the steel price is out of BRAZIL..its doubled in price to NIPPON...this company share price will rise how far..I DO NOT KNOW..STEEL could rise up to 100%..this year..what a boon to the industry..CHINA will set the benchmark..and all I know its a lot higher than last year.. :2twocents

Jay-684
23rd-February-2005, 06:45 PM
was gonna buy portman at around $1.80, now its over $3.80 from memory :(

oh yeah, and was gonna get in on the BNB float at $5.00, its now around $11.00

Mistermoon
14th-March-2005, 04:16 PM
Put on another 12% today to close at a high of $0.91.

Brokers set a six month target of $1.20 last week... based on the number of buyers and sheer volume going through (hasn't dipped below 5million for weeks)... this could be realised much sooner!

C'mon BHP... pull in a bigger price rise for the good ol' Iron Ore!

The Barbarian Investor
15th-March-2005, 03:28 PM
Chicken i heard Brazil put up prices to Japan 97% , we've put up prices around 100% and China will take anyhthing japan doesnt want.

It used to be that the companies had a hard time increasing prices to Japan...not any more.

el_ninj0
16th-March-2005, 02:40 PM
Can someone tell me why this company has had such a significant increase in price over the last 2-3 months? Its jumped over 300%, But i cant see any announcements which would sugest this kind of thing.

el_ninj0
16th-March-2005, 06:47 PM
In addition to my last question, why did MGX lose such a huge ammount of value in the years between Jan 94 and Jan 01?

Sea Dog
17th-March-2005, 10:05 PM
The reason for MGX going up, up and away is mainly because they have since April 2004 actually started shipping out their product ( iron ore ) from Geraldton WA - about 3 ships a month on an average each carrying between 50000 ~ 60000 metric tonnes to China.

In addition to this, MGX has an agreement with a 'dedicated' consignee to buy their high quality pelletised ore for a number of years - The ore mined by MGX is of a quality which costs less to be processed into steel products.

Also MGX and Asia Iron Holdings - a mainland China outfit have locked into a joint venture which appears to be a win-win situation for both parties.

NinjO I hope this is of some use to you!

el_ninj0
17th-March-2005, 10:16 PM
Interesting information there Sea Dog, much appreciated. If that is the case, and there mines are going to be performing better in the future, is it not a certaintly that MGX will increase their value substantially?, except of course if some kind of disaster happend(by this i mean the unexpected).

Sea Dog
17th-March-2005, 11:48 PM
Hi elninjO - MGX total output is not significant enough ( they are hoping
for 3 million tonnes annually by the end of 2006 ) to warrant much of
any further sharp rise

MGX has been up, up and away in the last 6 weeks or so - hopefully
it will continue to go up altho' mu opinion is that it may be slow and steady
( if it goes up any further )

mime
19th-March-2005, 12:27 PM
I was going to buy Caltex @ around $8 a share. It's still probably a good buy at $15 around share though.

blake
21st-March-2005, 06:39 PM
is it worth buying this one now or too late?

el_ninj0
21st-March-2005, 07:34 PM
Hi elninjO - MGX total output is not significant enough ( they are hoping
for 3 million tonnes annually by the end of 2006 ) to warrant much of
any further sharp rise

MGX has been up, up and away in the last 6 weeks or so - hopefully
it will continue to go up altho' mu opinion is that it may be slow and steady
( if it goes up any further )

Sea Dog, what if the price of iron ore goes up again?, which I find it very doubtful that it wont go up, in the situation with china, its going to keep booming for quite some time.

el_ninj0
29th-March-2005, 05:54 PM
Anyone have some ideas as to why the price of MGX dropped by around 10% today?

kpgduras
29th-March-2005, 07:05 PM
Anyone have some ideas as to why the price of MGX dropped by around 10% today?

Maybe it's something to do with the placement on 01/04/05 at 85c - have a look at http://www.egoli.com.au/egoli/egoliNewsViewsPage.asp?PageID=%7BEFCB1F77-D731-448F-8426-66AF88A54B0A%7D

kpgduras

el_ninj0
29th-March-2005, 07:07 PM
Maybe it's something to do with the placement on 01/04/05 at 85c - have a look at http://www.egoli.com.au/egoli/egoliNewsViewsPage.asp?PageID=%7BEFCB1F77-D731-448F-8426-66AF88A54B0A%7D

kpgduras

That url doesn't work. got one that does?

kpgduras
29th-March-2005, 07:27 PM
That url doesn't work. got one that does?

Strange - works for me. :)

Try http://www2.shawstockbroking.com.au/egoli/egoliHome.asp
click on News and Views (in left margin) and click next page at the bottom. The 3rd and 4th article are about MGX - the 4th is the one I mentioned.

Regards
kpgduras

el_ninj0
31st-March-2005, 09:50 AM
Barbarian, your going to wish you bought in yesterday.

The Barbarian Investor
31st-March-2005, 11:21 PM
Hi el-Ninjo

bought in at 0.73c..hopefully it proves to be a good move

el_ninj0
1st-April-2005, 12:13 AM
Hi el-Ninjo

bought in at 0.73c..hopefully it proves to be a good move

Good move, wish I had the patience to wait as you did. Impatience doesn't get ya too far in the market. Hasn't for me yet anyway, :)

el_ninj0
8th-April-2005, 06:46 PM
Anyone got any thoughts on what happend this week for MGX? It appears to have another rise on its hands, but how much of one Im not sure. Anyone else's opinions would be helpful.

Mofra
13th-April-2005, 08:16 PM
el_ninj0,

I have MGX consolidating at the low 70c levels whilst the wider market softens, which is a good thing for MT & LT holders - given their guidance of an expected $50m net profit for the 2006 financial year (figure from annoncements) the current lull in volitility will shake a few traders out and the market will soon begin again valuing the stock on fundamentals.

The Barbarian Investor
15th-April-2005, 08:21 AM
MGX has dropped below my entry price, however i'm still *Bullish* on this stock and may top up my holdings and average out my price..

Mofra
17th-April-2005, 01:16 PM
Well,

I can admit getting it wrong (re my last post) - although the move down seemed to be on the back of BHP's iron ore backdown and in sympathy with the rest of the market. Given that two others I have reduced my position size in (PNA & LAF) released positive announcements this week but still retraced, it seems some ST ugliness will still be present however my earlier MT entries are still intact (given I don't believe the fall is fundamentally based).

Remember the 5cps profit forecast when MGX was 18c didn't move the price for months, and the doom & gloom at present is remiescent of the discussions during the mid 2004 retrace

The Barbarian Investor
18th-April-2005, 10:24 PM
Sitting at 0.61c now.. :D


Time to sitback and watch the fun over the upcoming weeks?


NEWSLETTER
By Noel Whittaker

18th April 2005

The share market is on the front page of the paper again because there
has been a fall in the price of shares all over the world. Naturally
the press has a field day because scary headlines are great for selling
papers. If the market jumps, the papers take little notice, but all it
takes is a bit of a correction for us to get the full doom and gloom
treatment.

Anybody who has been investing in shares for a long time knows that it
is in the nature of a share market to have periodic jumps and falls.
This is why I have always recommended that anybody who invests in shares
have at least a ten year time frame in mind. This provides sufficient
time for the investor to cope with the normal market volatility.

So don't be concerned about the current turbulence; hang in there and
think of adding to your portfolio if you’ve got any spare cash. Don't
forget that there is now over $600 billion in superannuation and
employers are contributing 9% of payroll all the time. Most of this money will
find its way into the share market and this will provide tremendous
buying pressure year in year out.

el_ninj0
18th-April-2005, 10:32 PM
Sit back and watch what??
:)
Have you noticed that this is one seriously volatile stock?
It jumps up and down so much more than any other stock ive seen.
How high in value do you think MGX will go in the next few weeks?

The Barbarian Investor
19th-April-2005, 08:56 AM
Sit back and watch what??:)?

The Market in General :)

Mount Gibson Mining has always been a speculative buy, but a worthwhile stock IMO .

They are confident of achieving profits of around $15M per year, i believe they intend(or have done so) to exchange their 54% interest in Mt Gibson Magnetite deposits for a 30% share in Asia iron Holdings Ltd. (just had a quick look at Commsec news- their joint venture with Asia iron in Nanjing begins operation at the end of April also)

BHP didnt get the rise in price they wanted; however i expect the resource boom still has some steam left in it...

I'm happy to hold

DTM
19th-April-2005, 09:10 AM
Sitting at 0.61c now.. :D


Time to sitback and watch the fun over the upcoming weeks?


NEWSLETTER
By Noel Whittaker

18th April 2005

The share market is on the front page of the paper again because there
has been a fall in the price of shares all over the world. Naturally
the press has a field day because scary headlines are great for selling
papers. If the market jumps, the papers take little notice, but all it
takes is a bit of a correction for us to get the full doom and gloom
treatment.

Anybody who has been investing in shares for a long time knows that it
is in the nature of a share market to have periodic jumps and falls.
This is why I have always recommended that anybody who invests in shares
have at least a ten year time frame in mind. This provides sufficient
time for the investor to cope with the normal market volatility.

So don't be concerned about the current turbulence; hang in there and
think of adding to your portfolio if you’ve got any spare cash. Don't
forget that there is now over $600 billion in superannuation and
employers are contributing 9% of payroll all the time. Most of this money will
find its way into the share market and this will provide tremendous
buying pressure year in year out.

Does anyone else think that Noel Whittaker's article flawed? Down right dangerous even? Would you put your Super into the share market if it was going backwards, no matter how much money you had in it? If the US, Japan, Australia and Europe's economy are slowing, wouldn't that mean less returns for companies therefore would you invest in something that doesn't justify the returns?

It would actually be good to hear from longer term investor's views how they perceive the market and how they would trade it.

el_ninj0
26th-April-2005, 02:51 PM
Anyone else notice that this one gets hit extremely hard in accordance with how the All Ords are going? Percentage wise im talking about.

Mofra
27th-April-2005, 12:58 PM
They are confident of achieving profits of around $15M per year

MGX upgraded thier profit forecast due to increased revenues in the second half - $21m for the FY I believe

Yesterday's ann didn't seem to move the market much, but $25 pt on 3 MTPA does provide a very solid base for revenue and profitablity.

Happy to hold, at current levels it seems a little undervalued at 2005 profit figures (just over 5cps profit, if you include the Oct05 22c options in the market cap)

el_ninj0
27th-April-2005, 06:11 PM
MGX upgraded thier profit forecast due to increased revenues in the second half - $21m for the FY I believe

Yesterday's ann didn't seem to move the market much, but $25 pt on 3 MTPA does provide a very solid base for revenue and profitablity.

Happy to hold, at current levels it seems a little undervalued at 2005 profit figures (just over 5cps profit, if you include the Oct05 22c options in the market cap)

I agree mofra, definetely solid revenue. Already shipped 510,000 tones. I am suprised however that there was no reaction to this in the share price. Mabey a delayed reaction?

Mofra
7th-May-2005, 02:48 PM
That's a little better,

Exploration ann seems to have help price Thurs & Fri - I have the ST DT from 31/03 broken now, although on my weekly chart MGX looks like its trending sideways and 66c resistance is still intact.

Interesting to note one of the areas covered is near FMG's stake - hopefully the same problems FMG had with the increase in costs to get project to production are not going to be replicated.

Notice there is a large sell at 68c (1m shares) - would anyone like to guess if this is legit or just a stacker? (for accumulation). Volume higher on last to days leads me to speculate

el_ninj0
6th-June-2005, 01:29 PM
Looks like there is strong buying support for MGX today, much better interest than the previous weeks. I think we may be seeing some kind of comeback for this one.

Mofra
6th-June-2005, 04:21 PM
el ninj0,

Perhaps the decision to build the slurry pipeline has attracted a little more interest, as it will reduce LT overheads as well as avoid problems earlier this year of rail carriage availability (not to mention leveraging against any upgrade in resource estimate or quality). Not far off fair value at the moment methinks on 2005 earnings figures, taking into account they didn't set profitablity figures fr last FY so they still have to prove to the market that they can meet their targets (which I believe they will). Would hope that after the 2005 full year figures are released the price moves up as it starts to trade on 2006 multiples.

Cheers

el_ninj0
17th-June-2005, 12:34 AM
It amazes me how terribly stupid the people that sell at current prices in MGX are. This is a company well on track to becoming a huge success, yet the people that hold this stock continue to sell it at lower and lower prices. Even though it had an up today, its irrelivent as it will go down tommorow again.

I'd like to know people opinions, mabey some technical charting, on when this stock will start to pickup again. When is the next report on progress due?

Thanks.

johnno261
19th-June-2005, 11:38 AM
It amazes me how terribly stupid the people that sell at current prices in MGX are. This is a company well on track to becoming a huge success, yet the people that hold this stock continue to sell it at lower and lower prices. Even though it had an up today, its irrelivent as it will go down tommorow again.

I'd like to know people opinions, mabey some technical charting, on when this stock will start to pickup again. When is the next report on progress due?

Thanks.
Ninjo, I can't work it out either!! Brian Johnson is a really switched on MD and has built this company into something that is clearly trading cheaply!! When you consider that the All Ords has regained all of it's losses, but yet MGX is trading only really a handful of cents off it's low thru out the downturn of the past 3 months!!
As to when this stock will pick up again, I have no explanation.Next report I guess will be the final quarter report. Possibly we will recieve some good news, Re: the new drilling area?

el_ninj0
20th-June-2005, 03:21 PM
Nice movement in the price today, up 4 cents to 70cps. Its almost on a breakout, but not quite just yet, another few cents and its gonna go for a run again. Hopefully....., :)

Go MGX, GO! :D

el_ninj0
21st-June-2005, 12:32 AM
Does anyone know of some reason(s) that MGX might have had this increased popularity again?, Im sure its still undervalued currently, but I cant figure out why it didn't go higher earlier? Doctorj, Richkid?

el_ninj0
21st-June-2005, 10:34 AM
Well, I guess my questions have been somewhat answered. MGX has an announcement pending, to be released on the 23rd, Thursday, June.


The securities of Mountain Gibson Iron Limited (the "Company") will be placed in pre-open at the request of the Company, pending the release of an annoucement by the Company. Unless the ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Thursday, 23 June 2005 or when the announcement is released to the market.

Any ideas on what the announcement might be in reference to?, obviously some people were predicting this would happen yesterday so they bought up.

doctorj
21st-June-2005, 04:28 PM
Chances are many already know what the announcement is, others just bought because everyone else was.

MGX was hit by the market correction but unlike others is yet to come back. It wouldn't suprise me if the news results in strong trading and high volumes as a result, despite the selling pressure that usually comes when a stock is bought up strongly before an announcement.

The price action would indicate that its unlikely that the announcement will be a raising. I'd also discount any takeover of RMI at this stage as they're not in a halt, which leaves it likely to be an announcement on their magnetite project.

Mofra
21st-June-2005, 08:58 PM
Well the after market ann settles it,

Further funding of Argyle Iron Ore project via RMIs placement, glad to know it isn't an MGX placement, suspected there was a chance for the slurry pipeline but they will have some capital injection when the October options are exercised (MGXO).

el_ninj0
22nd-June-2005, 06:17 AM
Well the after market ann settles it,

Further funding of Argyle Iron Ore project via RMIs placement, glad to know it isn't an MGX placement, suspected there was a chance for the slurry pipeline but they will have some capital injection when the October options are exercised (MGXO).

In english please? :)

el_ninj0
23rd-June-2005, 01:43 PM
As todays announcement was released to the market. The balance was clearly in the sellers hands, however when the market opened for trading, alot of overselling was seen in the low 70's, which led to buyer backdowns. In other words, the sellers saw it as a fast buck and have oversold beyond the value of the shares.

My prediction for this is that it will cause the buyers from today to mark up value on their stock and lead to a sharp increase in the sp of this security.

The announcement of a Shougang partnership puts MGX in an extremely strong position in china, with massive potential to increase the value of MGX as a whole.

profithunter
23rd-June-2005, 02:23 PM
As todays announcement was released to the market. The balance was clearly in the sellers hands, however when the market opened for trading, alot of overselling was seen in the low 70's, which led to buyer backdowns. In other words, the sellers saw it as a fast buck and have oversold beyond the value of the shares.

My prediction for this is that it will cause the buyers from today to mark up value on their stock and lead to a sharp increase in the sp of this security.

The announcement of a Shougang partnership puts MGX in an extremely strong position in china, with massive potential to increase the value of MGX as a whole.


Do you own this stock?

el_ninj0
23rd-June-2005, 02:25 PM
Do you own this stock?

Indeed I do. I dont think i'd follow a stock this closely unless I owned it or was thinking about buying it. :)

profithunter
23rd-June-2005, 08:21 PM
Yeah I thought so, the way you are talking the stock up

el_ninj0
23rd-June-2005, 08:28 PM
Yeah I thought so, the way you are talking the stock up

It was not the intention to talk up the stock. Im looking for other peoples opinions on this also, feel free to give me your opinion or correct in any way you like, im open to other peoples views on this subject.

profithunter
23rd-June-2005, 08:42 PM
I've placed a bid at .61, it seems to have support at that level...of course I'm looking at it purely as a technical trade but the announcement certainly adds to the long term positives for mt gibson

chicken
24th-June-2005, 09:59 AM
reading this morning in the paper....the chinese have taken a 50% equity share in this company...so its all go will rise in value here I will now invest as this is an all go company...maybe they will get some chinese miners as well...the chinese are taking a seat on the board...watch this stock

Mofra
26th-June-2005, 09:07 PM
reading this morning in the paper....the chinese have taken a 50% equity share in this company...
Is this what you were talking about?

Date: 24/6/2005
Author: Robin Bromby
Source: The Australian --- Page: 25

Australian mining company, Mount Gibson Iron, has found a Chinese partner. Shougang Group, the fourth-largest steel maker in China, will pay $A135 million for a stake in Mount Gibson's magnetite pellet iron ore project. Shougang will gain ownership of 50 per cent of the magnetite deposit in Western Australia and 13 per cent of the company, giving it a seat on the board. The magnetite will be mined and processed and sent as a slurry by pipeline to Geraldton. A pellet plant will be build in China.

MGX has done very well in the past 12-18 months forming joint ventures with Chinese companies (eg The Extension Hill transaction which gave it 54% of Aisa Iron Holdings, now 61%) to ensure delivery partners in China are assured for all ore mined. IMO this latest development continues the trend on mutually beneficial agreements with interested parties, to me it displays management savvy.

chicken
27th-June-2005, 01:39 PM
Is this what you were talking about?

Date: 24/6/2005
Author: Robin Bromby
Source: The Australian --- Page: 25

Australian mining company, Mount Gibson Iron, has found a Chinese partner. Shougang Group, the fourth-largest steel maker in China, will pay $A135 million for a stake in Mount Gibson's magnetite pellet iron ore project. Shougang will gain ownership of 50 per cent of the magnetite deposit in Western Australia and 13 per cent of the company, giving it a seat on the board. The magnetite will be mined and processed and sent as a slurry by pipeline to Geraldton. A pellet plant will be build in China.

MGX has done very well in the past 12-18 months forming joint ventures with Chinese companies (eg The Extension Hill transaction which gave it 54% of Aisa Iron Holdings, now 61%) to ensure delivery partners in China are assured for all ore mined. IMO this latest development continues the trend on mutually beneficial agreements with interested parties, to me it displays management savvy.
That is right....looks like this share will go higher :2twocents

johnno261
28th-June-2005, 01:57 PM
That is right....looks like this share will go higher :2twocents

In agreeance with you Chicken Man/Lady. It also gives us a peace of mind that a big company coming out of China, is aware of their own country's needs, hence no slow down to the amount of Iron Ore required for the country's infrastructure!! You ask is I would, why would they "shagging Co.China" invest hundreds of millions of dollars into something like MGX if they thought themselves that their needs are cooling off!!! The Chows are not at all silly people!! Yes I have held this stock for some time, however at todays trading levels i do consider a good buy!Does'nt appear to be any down side. Magnetite BFS due August.

Just my thought for the day!!

el_ninj0
29th-June-2005, 05:29 PM
Looking good at todays close. It didn't close on the high of the day, so im unsure of tommorows outcome, however, a 7% gain in a single day without some kind of news is a little unusual.

Anyone elses thoughts?

johnno261
29th-June-2005, 05:47 PM
Looking good at todays close. It didn't close on the high of the day, so im unsure of tommorows outcome, however, a 7% gain in a single day without some kind of news is a little unusual.

Anyone elses thoughts?

Good day of trading indeed!!! I would expect a good day on the asx tomorrow with the end of the fin year drawing near. I really think El Ninjo, that it's taken a week for the latest submission of reports from Mr.Johnson's switched on Company, for poss. the Institutions and traders to digest the positive impact that China's 4th largest Steel producer has jumped on board the train to Mount Gibson!! I am in no doubt that we are about to see a fair bit of movement on this stock!!

profithunter
29th-June-2005, 09:11 PM
I've jumped on the MGX rollercoaster...I'm in profit already after todays gains.

RichKid
29th-June-2005, 10:10 PM
The Chows are not at all silly people.

Johnno261 and anyone reading,
Be aware that language of the type used above is unnaceptable on these forums, it is considered derogatory and offensive and is not appropriate. Please familiarise yourself with the forum code of conduct. Using names like that is unnecessary. I am surprised that you use that word when you have acknowledged a simple truth in that very sentence. No race or culture should be treated in that off-hand manner purely because of the fact that they are not from our own. We need to maintain a basic standard of decency here- there are other forums for those who prefer lower standards.

el_ninj0
29th-June-2005, 10:36 PM
Johnno261 and anyone reading,
Be aware that language of the type used above is unnaceptable on these forums, it is considered derogatory and offensive and is not appropriate. Please familiarise yourself with the forum code of conduct. Using names like that is unnecessary. I am surprised that you use that word when you have acknowledged a simple truth in that very sentence. No race or culture should be treated in that off-hand manner purely because of the fact that they are not from our own. We need to maintain a basic standard of decency here- there are other forums for those who prefer lower standards.

I'll second that, well said.

johnno261
30th-June-2005, 07:48 AM
It takes a man to say sorry, as I do apoligize now. No bad intentions wer'e meant. I acknowledge that this may have been offensive, but more than anything I was making a claim of respect, That the Chineese are not silly people!(My wording should have been different) I travel the world every year and I always stop thru that part of the world because of my love for their culture,people,food, etc etc.
Have a nice day Richkid !!!!!!

RichKid
30th-June-2005, 09:06 AM
It takes a man to say sorry, as I do apoligize now. No bad intentions wer'e meant. I acknowledge that this may have been offensive, but more than anything I was making a claim of respect, That the Chineese are not silly people!(My wording should have been different) I travel the world every year and I always stop thru that part of the world because of my love for their culture,people,food, etc etc.
Have a nice day Richkid !!!!!!

Hi Johnno,
Apology accepted! I'm glad you didn't mean to be offensive. Anyone else reading, please be careful about the terms you use. This applies to everyone equally so please report any posts of that nature.

chicken
30th-June-2005, 10:01 AM
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 :2twocents

RichKid
30th-June-2005, 07:35 PM
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 :2twocents

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
30th-June-2005, 07:54 PM
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
25th-July-2005, 10:34 AM
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
25th-July-2005, 09:29 PM
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
25th-July-2005, 10:28 PM
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
26th-July-2005, 07:42 AM
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
26th-July-2005, 04:07 PM
Good finish on todays price, closed at a high of the day on 66.5cps.
Lets see what tommorow has to offer.

johnno261
26th-July-2005, 07:35 PM
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
26th-July-2005, 08:55 PM
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
27th-July-2005, 05:36 PM
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
28th-July-2005, 12:30 PM
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
28th-July-2005, 12:32 PM
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
30th-July-2005, 12:31 PM
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
30th-July-2005, 02:32 PM
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
31st-July-2005, 11:18 PM
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
31st-July-2005, 11:24 PM
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
1st-August-2005, 08:54 AM
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
2nd-August-2005, 01:16 PM
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
2nd-August-2005, 01:22 PM
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
2nd-August-2005, 05:05 PM
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?

el_ninj0
8th-August-2005, 10:17 AM
Both the sellers at at 68 and 69 cps, are gone from the board now. Maybe they realised they'll get more for their shares sooner rather than later. It seems to be travelling very well so far today.

chicken
8th-August-2005, 10:41 AM
Hi elninjO - MGX total output is not significant enough ( they are hoping
for 3 million tonnes annually by the end of 2006 ) to warrant much of
any further sharp rise

MGX has been up, up and away in the last 6 weeks or so - hopefully
it will continue to go up altho' mu opinion is that it may be slow and steady
( if it goes up any further )
The CEO of SWG is joning the MGX board????

el_ninj0
8th-August-2005, 09:07 PM
Encouraging results today again, closed only .5 cents below the high of the day. That 70 cents per share mark is looking very close now.

el_ninj0
11th-August-2005, 04:05 PM
Looks like 69cents per share is the one to pass, its having a bit of trouble getting past there. Seems to be alot of increased interest in this share though, which is a nice positive.

TheProphet
11th-August-2005, 06:21 PM
El Nino,
I feel that someone is accumulating MGX at the moment. Have patience, I'd give it another 2-3weeks before it cracks the 70 barrier. But once this has occured we will be looking at new highs shortly thereafter. You seem to be a keen fan of MGX do you hold?

I did, but sold to find better value elsewhere. Though would be more than happy to jump back on board once it cracks the pivotal 70

Cheers

el_ninj0
11th-August-2005, 07:01 PM
I do hold Prophet, im just curious to here other people thoughts on the state of this one, thats why there is so many posts from me :).

Thanks for yours.

chriswillz
12th-August-2005, 01:18 PM
El Nino
Cracked the 70 today. One would think this is surely a good time to jump in. I know I did!!

el_ninj0
12th-August-2005, 01:24 PM
El Nino
Cracked the 70 today. One would think this is surely a good time to jump in. I know I did!!

Ive been watching it all morning chris, I had a feeling it would break the 70c mark today, but wasn't sure. Good luck with your buy. There seems to be alot of interest in this one now.

el_ninj0
12th-August-2005, 04:16 PM
Nice finish today, cant wait for next week. New directory appointed, exciting stuff people, im excited!, :). Finished on 71.5cps with a high of 72cps. This new directory information must have leaked a bit earlier i'd think, hence the increased buying over the previous 3 days. It looks like he's got quite a nice history, and some good contacts to help MGX get a few deals in, lets hope so atleast.

Selling seems very scatered currently, far more buyers than sellers in the market depth. Someone else's view would be nice if you care to share...?

profithunter
12th-August-2005, 06:09 PM
It was nice to see mgx close above .70c today...next stop $1.00!!!!

chriswillz
15th-August-2005, 11:00 AM
Finally what we have all been waiting for... @74cps as we speak

Cheers

el_ninj0
15th-August-2005, 11:04 AM
Finally what we have all been waiting for... @74cps as we speak

Cheers

Also watching closely chris. Its looking promising. Depending on the outcome today, we could be on a breakout.

el_ninj0
22nd-August-2005, 10:49 AM
Looks like its holding off for a while. Having trouble keeping above that 70cps mark.

Any other thoughts?

TheProphet
22nd-August-2005, 04:49 PM
MGX will probably hit as low as 65-66 before returning up over the 70mark. It just seems to have lost some momentum. I suppose buyers are getting frustrated with the slowness of the uptrend.

Cheers

ramjet
22nd-August-2005, 07:28 PM
prophet, you maybe right, it wants to go, it has the fundamentals behind it, we just need news flow, also i expect some punters want to see the shougang deal first before they buy in.

el_ninj0
22nd-August-2005, 08:17 PM
MGX will probably hit as low as 65-66 before returning up over the 70mark. It just seems to have lost some momentum. I suppose buyers are getting frustrated with the slowness of the uptrend.

Sorry if this seems like a stupid question, but how can buyers be frustrated with the slowness of the uptrend?, They are the ones responsible for it. For quite a few days, there were some small ammounts of sellers wanting to go for sells, lots of maximum 50,000. Yet the buyers were hesitant and didn't even go above 71cps. It seems to me like there hasn't been enough exposure of what is happening to make people more interested in it.

TheProphet
22nd-August-2005, 09:39 PM
Sorry El Nino - could have been a little crisper on the wording. Meant that those "holding" mgx could have expected a steaper uptrend. Which obviously has not occured yet.

Cheers
P.S. Look 4 MUL tomorrow morning - set for some action

pokerset
22nd-August-2005, 09:57 PM
could just be a delayed reaction.. the movement is there

TheProphet
22nd-August-2005, 10:35 PM
Certainly, looks like a great long term trade - however I am more in the short term market.

In that respect better value elsewhere

Cheers

el_ninj0
24th-August-2005, 05:03 PM
Big buyer in this arfternoon. 3,000,000 at 71cps
Something big may be about to happen.

johnno261
2nd-September-2005, 07:53 PM
Today it was great to see this stock recieve some recognition and was allocated a position in the S & P ASX300. Most probably the start of Institutional buying. In my humble opinion, just the start of the big picture!!

johnno261
10th-September-2005, 06:15 PM
Col Capitol Fund Managers, another Chinese institution are accumulating MGX as per yesterday's report.

el_ninj0
10th-September-2005, 08:39 PM
Col Capitol Fund Managers, another Chinese institution are accumulating MGX as per yesterday's report.

Wonder when it will run, its right on its breaking line at the moment.
Who knows though....
Any one have any news from analysts about it?

johnno261
12th-September-2005, 06:43 PM
Picture unfolding. See todays ASX ann.

el_ninj0
12th-September-2005, 08:35 PM
Picture unfolding. See todays ASX ann.

All as to be expected in the report johnno. Looks like a steady progression from here on to me.

el_ninj0
15th-September-2005, 06:02 PM
All as to be expected in the report johnno. Looks like a steady progression from here on to me.

So much for steady, nice jump today. up 4 cents from yesterday. Lets hope it continues. Got upto 77.5cents at one stage.

johnno261
15th-September-2005, 07:09 PM
So much for steady, nice jump today. up 4 cents from yesterday. Lets hope it continues. Got upto 77.5cents at one stage.

El ninjo has struck.Heating up in the kitchen!!! How great was the announcement late in the day!!!

el_ninj0
17th-September-2005, 08:51 PM
Just thought this is worth a mention in this thread:

"Iron ore prices will jump again: brokers"
http://www.thewest.com.au/20050917/business/tw-business-home-sto132266.html

"China will have to wait at least another two years before extracting its threatened revenge for February's unprecedented 71.5 per cent price increase for iron ore, with most analysts now predicting another big rise next year.

Investment bank UBS led the charge yesterday, staging an amazing about face to predict iron ore prices would rise 10 per cent next year and "rollover" in 2007. Previously one of the sector's more pessimistic observers, UBS had been forecasting prices would fall 20 per cent in both years.

UBS attributed its change of heart to its revised forecasts for Chinese steel production, which it now expected to grow by another 8 per cent in both 2006 and 2007.

Previously, most analysts had believed Chinese government efforts to slow domestic growth and inflation, including cutting the number of iron ore import licences and curbing construction of new small-scale steel mills, to have a greater impact on steel output.

But Chinese growth continues to run rampant and while Beijing's decision to allow limited appreciation of the yuan has also marginally increased the buying power of Chinese industry.

"We expect strong steel production growth to keep the iron ore market tight for the next 12 months, allowing iron ore miners to push through another price increase," UBS analysts Daniel Brebner and Glyn Lawcock said in a client note yesterday.

Fellow investment bank Credit Suisse First Boston has also flagged the possibility of another 10 per cent increase in 2006, from the previous consensus forecast of rollover, while UK merchant bank Investec upgraded its forecast from a 10 per cent fall to rollover next year.

Dallas Horodam, from metals forecaster AME Mineral Economics, said the market was finally catching on to what had been obvious for some time.

"We've been forecasting an increase for most of the year in the range of 5 to 10 per cent," he said "And if you look at the gap between spot prices and contract prices, it could be higher."

Spot prices in China are typically $US20-$US30 a tonne higher than the $US50 per tonne paid for contracted lump ore from the Pilbara. Australian ore also costs Asian buyers about $20 a tonne less than ore from Brazil because of the greater shipping distances from South America.

Earlier this year, BHP Billiton almost sparked all-out war with China when it demanded an extra $US10 per tonne to recoup some of the so-called freight differential, on top of the 71.5 per cent increase already agreed with other suppliers.

BHP Billiton's demand inflamed an already tense situation, coming after Chinese industry chiefs and government officials repeatedly warned that gouging customers while supplies were tight could irreparably damage Australian miners relationships with Chinese buyers.

But Mr Horodam said China's threats to exact revenge were unlikely to find much traction for the next few years, especially as only the world's big three miners were set to increase output substantially before the end of the decade.

Big ticket expansions are set to lift BHP Billiton's output from 104 million tonnes this year to 118 million tonnes in 2006, while Rio Tinto's Pilbara mines will produce about 170 million tonnes, up from 140 million tonnes in calendar 2005."

Very interesting, mabey very profitable too.

johnno261
18th-September-2005, 09:43 AM
Great reading El Ninjo. Thank You.
MGX looking very good. BFS which is due Mid December, was confirmed to us to be very viable, hence the uptake in interest from Shougang Co. They are already aware of things months ahead, and they would'nt go throwing money into a Co. willy nilly !! Great news about them allocating $175million for the slurry pipe project. Good news for shareholders. Keeps dilution down!!
Cheers

el_ninj0
22nd-September-2005, 09:53 AM
I think it'll probably go down to around 81cps today, but tommorow it will go up again. One of those mid level resistance stages its at right now. $1.15 is my target for the short term.

johnno261
22nd-September-2005, 04:35 PM
ElNinjo, your short term target is conservative and very reachable in my opinion pre Christmas. Just my opinion.

johnno261
23rd-September-2005, 10:26 PM
Just perused over some valuation on MGX should the iron ore sector recieve a 10% price increase as it appears maybe a strong possibility.

It will add $18,000,000 p/a , 16cps and put MGX on a P/E of 7.

Outlook is very bullish. Traded very strong near close and closed on its high for the day of 84cents. Poss. may gap up Monday.
Cheers

el_ninj0
24th-September-2005, 09:57 AM
I agree johno, it did trade very strongly in the afternoon. I expect it to go up significantly on monday, atleast 4 cents. Mabey even reach 90cps. I expect it to reach my short term pre christmas. Possibly early november. MGX is on a breakout right now as far as I can see, so im getting in while its hot.

Good luck everyone.

el_ninj0
26th-September-2005, 03:57 PM
Well, :), that didn't exactly go as predicted. Mabey its still building support. What do I know, my guess is as good as the next persons. Help me out here someone.

:banghead:

markrmau
26th-September-2005, 04:09 PM
The hardest thing is to let the winners run. Every slightest retracement makes you want to jump out to protect your winnings. You must fight your instincts and invest like a rat (I'll explain in another thread).

johnno261
26th-September-2005, 09:14 PM
For those whom are interested, an interesting article published in The Sydney Morning Herald on September 20th in relation to a large Ohio based company that is perusing for aquisitions amongst the junior iron ore players in Australia that are in a BFS stage. MGX & MMX are both at this point in their developments that I am aware of.AZR?

Go to Google News,type in Mount Gibson Iron and then sort by date and this link should be the most recent news on MGX.

Interesting reading
Cheers
Johnno

el_ninj0
26th-September-2005, 10:33 PM
For those whom are interested, an interesting article published in The Sydney Morning Herald on September 20th in relation to a large Ohio based company that is perusing for aquisitions amongst the junior iron ore players in Australia that are in a BFS stage. MGX & MMX are both at this point in their developments that I am aware of.AZR?

Go to Google News,type in Mount Gibson Iron and then sort by date and this link should be the most recent news on MGX.

Interesting reading
Cheers
Johnno

You are correct johnno. AZR has had alot of increased volume in the past couple of trading days aswell, and a steady price increase. Above 20cps now. Would be good to see either MGX or AZR the target in a bidding war. They are both a sure bet in my opinion. MGX in the later stages compared to AZR of course.

Will be interesting to see what happens.

johnno261
28th-September-2005, 08:43 PM
Great news out today re the Asian Iron magnetite project given the correct approvals from the Chinese government. Things seem to be falling into place nicely.

Shaws also had an update on MGX today which of course was positive, given the fact that they hold a large parcel.
Article in the fin review today was also very encouraging on MGX and the Iron Ore sector.

Cheers
Johnno

el_ninj0
28th-September-2005, 09:38 PM
Great news out today re the Asian Iron magnetite project given the correct approvals from the Chinese government. Things seem to be falling into place nicely.

Shaws also had an update on MGX today which of course was positive, given the fact that they hold a large parcel.
Article in the fin review today was also very encouraging on MGX and the Iron Ore sector.

Cheers
Johnno

Hey johnno, can you post the link for the financial review article? I had a look, but couldn't find it. Thanks.

I agree, its looking very very good. I dont like to ramp it up. So i think ive said enough.

johnno261
29th-September-2005, 06:56 AM
Yes I agree. I have made many posts on MGX myself, but people may find a fine line between spruiking and sincere excitement. Cheers El Ninjo, I will cool off a bit too. Good luck

Yippyio
29th-September-2005, 07:18 PM
MGX - Looking Good !!!

FYI


Mount Gibson pellet plant approvals won

Jesse Riseborough


Wednesday, September 28, 2005
EMERGING iron ore play Mount Gibson Iron says its 76% subsidiary Asia Iron Holding has received all the necessary development approvals for construction of a 2.5 million tonne per annum pellet plant at the port of Longtan in China.

Beijing Shougang Design Institute has completed the engineering design of the plant and is also expected to be awarded the turnkey contract for construction of the plant, which is expected to commence in April 2006.

Mount Gibson said the Longtan Port Authority would be constructing a 400,000t covered storage facility for the company's magnetite concentrate to be exported from the Extension Hill magnetite project in Western Australia. The plant will be built on land adjacent to the wharf and will be leased for 25 years.

Asia Iron said it was also currently assessing possible locations for construction of a second 2.5tpa plant to be utilised following the scheduled doubling of production in 2008-09.

Earlier this month Mount Gibson said it had commenced a feasibility study into the production of metallised iron using the Midrex rotary hearth furnace technology. The study is expected to take two years to complete and will be based on the proposed construction of four 500,000tpa production modules, which the company said could each generate sales of around $200 million per year.

Mount Gibson holds both magnetite and coal deposits in WA's Mid West region, which it said were both technically suitable for the process that produces metallised iron in nugget form. The company is considering a plant located between Dongara and Mingenew.

Shares in Mount Gibson closed up 0.5c [0.6%] at 82.5c.

el_ninj0
4th-October-2005, 06:47 AM
Looking very good guys. There is a bit of a build up of sellers at 90cents, around 20 sellers looking to get rid of around 500,000 shares. So its not that meaningful in my opinion. Hopefully it can break that barrier today and get on with it.
:2twocents

johnno261
4th-October-2005, 06:44 PM
The word around the trap is that BHP & RIO are going for a 20-40% Iron Ore Increase. Geez would'nt that be fantastic for MGX!! I go with the opinion that even if we get a 5% rise, well bonus!!!!!!
Cheers

el_ninj0
6th-October-2005, 09:16 AM
Looks like its going to get hit heavy today. There is alot of sellers selling well under yesterdays close in the pre-open market at the moment.

TheProphet
6th-October-2005, 09:48 AM
Looks like that correction is possibly here. BHP Open Est. is 2080 down 3.0% as we speak.


Cheers

el_ninj0
6th-October-2005, 10:16 AM
Would be good buying at 78cps today in my opinion, as we should see some kind of correction in the afternoon or tommorow.

el_ninj0
9th-October-2005, 08:15 AM
Just looking for opinions on this stock as we could possibly be coming into some kind of down turn in the market. Any thoughts on it are appreciated. My opinion is that is will do fine at the bulk of the Iron Ore they get is exported to china and will continue to be exported even through a recession, and if Iron Ore prices are still set to go up, we are looking for greater profits that last years by far. Anything im overlooking?

Thanks.

markrmau
9th-October-2005, 08:36 AM
I am hanging on to this one. Worst case downside I can imagine would be 75c but I think it would bounce strongly there. Action happening with this nanjing pellet thing towards end of year. Still a bull run in iron ore.

johnno261
12th-October-2005, 07:28 PM
Strong last hour of trading from MGX. Some big parcels went thru and managed to close on it's high for the day. Profit upgrade of $75 Million 05/06 and trading at 79.5. I think very cheap!!!!!!!!!!!!!

el_ninj0
12th-October-2005, 08:38 PM
Strong last hour of trading from MGX. Some big parcels went thru and managed to close on it's high for the day. Profit upgrade of $75 Million 05/06 and trading at 79.5. I think very cheap!!!!!!!!!!!!!

Sorry, did i miss something?, $75 million profit upgrade? I dont see any announcement stating this. Could you please provide the source for that information johnno. Thanks.

johnno261
12th-October-2005, 08:52 PM
Sorry, did i miss something?, $75 million profit upgrade? I dont see any announcement stating this. Could you please provide the source for that information johnno. Thanks.
El Ninjo, re the upgrade which is old news, just making people take note of the outlook. To be honest I don't need to ramp this stock as it will do it itself, but I do like to share the fun ride with fellow punters, because after all we are all aiming for the same thing at the end of it>PROFITS!!!!!

johnno261
12th-October-2005, 09:30 PM
UBS & Barclays upgraded forecasts for base metal companys due to demand being much higher than expected from China.Growth from China in this last 1/4 have been greater than expected. Really not new news, but more of a confirmation that we are in for a good chance for higher Iron Ore Prices once negotiations commence later this month!!!!!! Woohoo MGX

johnno261
13th-October-2005, 04:07 PM
AA get those Pump & Dumps into ya @ 80cents. Watch out below for more of these to follow!! Me Thinks!!!!

ramjet
13th-October-2005, 07:42 PM
You need only ask two questions to answer the fortunes of MGX ( I hold);

1. How much new iron ore supply has come on the mkt in the last year?

2. Has global/chinese steel production declined materially in the last year?

If you answer no to both, my belief is that MGX will be well over $1 once iron ore negotiations are settled. People seem obseesed with further increases, so long as they do not deviate materially lower, that is 20% or more prices are well above mid cycle.

Secondly RMI (I hold) is another to watch our for, MGX has a large stake in this puppy.

chicken
28th-October-2005, 01:27 PM
You need only ask two questions to answer the fortunes of MGX ( I hold);

1. How much new iron ore supply has come on the mkt in the last year?

2. Has global/chinese steel production declined materially in the last year?

If you answer no to both, my belief is that MGX will be well over $1 once iron ore negotiations are settled. People seem obseesed with further increases, so long as they do not deviate materially lower, that is 20% or more prices are well above mid cycle.

Secondly RMI (I hold) is another to watch our for, MGX has a large stake in this puppy.
I like this stock, WHY? It has production,IT MAKES $$$ and yes the stock is being sold up and down by a trader....after all MGX has got a new Managing director who started today see the announcements.....and I hold over 200k shares and not selling at present price...read what their report said :2twocents

johnno261
28th-October-2005, 07:55 PM
read a very interesting article this evening on cnn.com and article written by a top analyst from Credit suisse Boston, Chris Potter and he basically said Iron Ore prices are a definate increase for the next year period and prices of coal will fall. Go to Google News type in Iron Ore then click on sort by date at top right then scroll down and you will see the link!!! mmm interesting perusing indeed!!!!
Cheers

Lucstar
28th-October-2005, 10:08 PM
Hi guys, i've spent the last hour or so reading all your posts and doing a bit of research on MGX. Seems like you guys are in for a nice ride. I wouldn't mind joining in. What do you think is a good entry price at the moment? The charts suggest a cooling-down period to come. Should i wait based on the technicals? Or should i get in now based on the fundamentals?

THanks, Kevin

hano53
28th-October-2005, 10:16 PM
Ifffffff my grandmother had b*lls I would had two grandpops LOL :p:

johnno261
29th-October-2005, 08:30 AM
Hi guys, i've spent the last hour or so reading all your posts and doing a bit of research on MGX. Seems like you guys are in for a nice ride. I wouldn't mind joining in. What do you think is a good entry price at the moment? The charts suggest a cooling-down period to come. Should i wait based on the technicals? Or should i get in now based on the fundamentals?

THanks, Kevin

Lucstar, I have been myself accumulating more of MGX everytime it dips under 80cents so me being a "Bull" would say I think no down side at around 80 cents and now plenty of support at these levels going by chart.
Upside potential is BIG.

Lucstar
29th-October-2005, 09:59 AM
Technically speaking, does anyone else see a cool-down period about to come in place or is it just me?

Hey johnno, forgive my ignorance, but i didn't quite fully understand your post. Are you saying 80cents is a good entry point?

Mofra
29th-October-2005, 10:22 AM
LT holder here - eps of 7.2c with production set to increase, management fees from Chinese owned mines and their own mines to production.

Feel there is a bit of sideways movement ST though due mostly to the chart wedge pattern on the EOD and general market uncertainty (displayed by higher volitilities in the previous couple of weeks in terms of higher than normal index daily ranges)

johnno261
29th-October-2005, 12:02 PM
Technically speaking, does anyone else see a cool-down period about to come in place or is it just me?

Hey johnno, forgive my ignorance, but i didn't quite fully understand your post. Are you saying 80cents is a good entry point?

Obviuosly Lucstar.Knowing the fundementals of this company I cant see trading at these levels again as I said when it was in the low 60's.

Kauri
29th-October-2005, 12:17 PM
Hi guys, i've spent the last hour or so reading all your posts and doing a bit of research on MGX. Seems like you guys are in for a nice ride. I wouldn't mind joining in. What do you think is a good entry price at the moment? The charts suggest a cooling-down period to come. Should i wait based on the technicals? Or should i get in now based on the fundamentals?

THanks, Kevin

Unfortunately I don't know about future entry points :confused: but I have used bounces off my percieved trend line to enter twice in late Aug. and early Sept. and will continue to do so as long as the line holds. Only you can answer what constitutes a good entry point according to your personal trading plan. Do you use trendlines, support/resistance, patterns, vindicators, fundementals, or a combination of the above? :)

chicken
29th-October-2005, 02:58 PM
El Ninjo, re the upgrade which is old news, just making people take note of the outlook. To be honest I don't need to ramp this stock as it will do it itself, but I do like to share the fun ride with fellow punters, because after all we are all aiming for the same thing at the end of it>PROFITS!!!!!
You just said it it all comes down to profit....and the way I see it...here is good production with GOOD profits....the SP is bound to rise as everything is falling into place..and good partners with DEEP pockets.....my target by year end is $1.25

Lucstar
29th-October-2005, 08:56 PM
Hey Kauri,
Thanks for posting the that chart.
Im reasonably unfamiliar with technical analysis, with only a very slight clue. So bare with me
What i would like to know is, where the price will go as it reaches the end of the triangle (in others, when the support line crosses over with the resistance line)?
Thanks,
BTW, excuse my poor wording.

chicken
30th-October-2005, 11:50 AM
Hey Kauri,
Thanks for posting the that chart.
Im reasonably unfamiliar with technical analysis, with only a very slight clue. So bare with me
What i would like to know is, where the price will go as it reaches the end of the triangle (in others, when the support line crosses over with the resistance line)?
Thanks,
BTW, excuse my poor wording.
Re support...80 cents at present where will the SP head ?..thats easy with a forecast of $78 million profit and the Chinese partner paying 80 cents for their shares in this group...its $1 plus you are looking at....65 cents I would mortgage my house.....its pretty cast iron.....except if the whole world went into a depression..not very likely...so my forecasts are, and I have proven that I have been correct...are $1 plus.......as they are really getting into the swing I own 200k shares :2twocents

Lucstar
30th-October-2005, 05:38 PM
Wow chicken, u've got 200k shares in this guy. Quite a big stake. Wish you and anyone else who holds all the best of luck. This company does seem pretty solid to me as well. Too bad im onli young and only have $2000 to spend on this guy. My other funds locked up in NGF (norton gold fields). Anyone else interested in NGF?

el_ninj0
30th-October-2005, 10:22 PM
200,000 shares chicken?, thats some investment there. I wish i had that to invest. Unfortunately i am still a student(not for much longer), so i dont exactly have alot of money lying around.

The line in the previous posted chart seems to be holding quite well, unlike many other support lines in recent weeks. The coming weeks should be interesting for this one. I'll be holding onto this one for a while, it has great potential in my opinion. Im not going to be as ambitious as chicken though, im think it will reach around $1 before the new year.

Good luck to all who hold this, not that we need it, luck has nothing to do with it. :)

:goodnight

Mofra
1st-November-2005, 10:27 AM
Re support...80 cents at present where will the SP head ?..thats easy with a forecast of $78 million profit and the Chinese partner paying 80 cents for their shares in this group...
Chicken, someone is reading your posts - u/boat in at the 80c buy level for most of yesterday :)

el_ninj0
1st-November-2005, 10:40 AM
Chicken, someone is reading your posts - u/boat in at the 80c buy level for most of yesterday :)

Its a pitty then, because chickens support line has now extended to 81cents.
I dont think it'll go that low again.

Lucstar
2nd-November-2005, 04:27 PM
Its a pitty then, because chickens support line has now extended to 81cents.

MGX closed at 0.8 today. Does this mean the support has been broken?

Kauri
2nd-November-2005, 05:06 PM
MGX closed at 0.8 today. Does this mean the support has been broken?

Still holding for mine..personally I would have short term support at 80c... :confused:
Probably too close to the pointy end of the blue triangle now for it to be relevant, but am hoping for a bounce off black trend line, :2twocents

johnno261
2nd-November-2005, 05:43 PM
MGX chart has formed a "FLAG" so lets hope that it holds this 80cent.Personally i think it will bounce of it as it has before on a few occassions.Decision making time for MGX according to the chart!!

chicken
3rd-November-2005, 10:23 AM
MGX chart has formed a "FLAG" so lets hope that it holds this 80cent.Personally i think it will bounce of it as it has before on a few occassions.Decision making time for MGX according to the chart!!
Yes decision time...saying their profits will be around $74 million...and Rio Tinto are negotiating new contracts for iron ore...forecasts are for another increase of price by 5-10 % some others say up to 20% quite frankly I can see only a 10% increase last year it rose by 74% so the Chinese are buying heavy from Brazille.....so If we have even a 5% increase it will reflect on this share price...I feel we will see a $1 by Xmas as the company is now very profitable and with the Chinese involved....they will get their metal from MGX looking after their supplies....this share is being worked hard as someone is taking a position in this stock.....Accumilation taking place at 80-81 cents

chicken
3rd-November-2005, 05:01 PM
There is big buying support at 80cents 3 large parcels of shares went through but finished at 80.5 cents....as soon as the price of iron ore has been negotiated by Rio we will see the price rise as a small% increase is being thought....Kauri I feel it will bounce of trendline.....very soon

el_ninj0
3rd-November-2005, 05:42 PM
There is big buying support at 80cents 3 large parcels of shares went through but finished at 80.5 cents....as soon as the price of iron ore has been negotiated by Rio we will see the price rise as a small% increase is being thought....Kauri I feel it will bounce of trendline.....very soon

Wow, thats the most volume MGX has had for a while i think. Someone big is accumulating at 80c. Also means someone is selling big. I'd like to know some more information on who they are, but unfortunatley i dont think we'll get that.

I agree, it will bounce back. That solid 80c for a few days had me a little worried, but i think in general its pretty safe, if it wasn't i would have my dosh in there. On the 6 month chart on comsec, its hugging the support line at the moment. So we'll see what happens, it has to close at 81c or higher tommorow.

Lucstar
3rd-November-2005, 06:00 PM
it has to close at 81c or higher tommorow.

You're rite, would be a good sign is MGX closes at 81c or higher tommorrow
But i wouldn't be too worried if it doesn't.
Firstly, i usually give myself a 3 percent buffer above or below the trend line in order to determine actual breakouts.
Also, MGX is quite solid in terms of fundamental analysis (long term).

johnno261
3rd-November-2005, 07:32 PM
You're rite, would be a good sign is MGX closes at 81c or higher tommorrow
But i wouldn't be too worried if it doesn't.
Firstly, i usually give myself a 3 percent buffer above or below the trend line in order to determine actual breakouts.
Also, MGX is quite solid in terms of fundamental analysis (long term).

Well the undisclosed @ 80cents has got very big pockets as 1million units wer'e accumulated this afternoon. Institution it has to be for sure.This is fantastic!!!! The U Buyer was still there at close of trade.

johnno261
3rd-November-2005, 07:34 PM
Wow, thats the most volume MGX has had for a while i think. Someone big is accumulating at 80c. Also means someone is selling big. I'd like to know some more information on who they are, but unfortunatley i dont think we'll get that.

I agree, it will bounce back. That solid 80c for a few days had me a little worried, but i think in general its pretty safe, if it wasn't i would have my dosh in there. On the 6 month chart on comsec, its hugging the support line at the moment. So we'll see what happens, it has to close at 81c or higher tommorow.

Possibly OPTION holders floggin shares at a 400% profit?

Kauri
3rd-November-2005, 07:44 PM
Or Sum Hung Hai out of Hong Kong raising their stake. :D

johnno261
3rd-November-2005, 07:48 PM
Or Sum Hung Hai out of Hong Kong raising their stake. :D
Nah oneg hung low

Lucstar
3rd-November-2005, 08:34 PM
Just out of curiousity,
On comsec's market depth for MGX, it shows the U bid as "26,475/u"
What does the 26,475 represent?

el_ninj0
3rd-November-2005, 09:32 PM
Just out of curiousity,
On comsec's market depth for MGX, it shows the U bid as "26,475/u"
What does the 26,475 represent?

The 26,475 represents the ammount that is specified at 80cents per share, that isn't in the undisclosed(/u) ammount.

Lucstar
3rd-November-2005, 10:08 PM
Oh so for example, if i was to put a buy order at 80cents. Then my quantity would join the 26,475 quantity rite? The U bid is kept separate? Is that what it is?

el_ninj0
3rd-November-2005, 10:09 PM
Oh so for example, if i was to put a buy order at 80cents. Then my quantity would join the 26,475 quantity rite? The U bid is kept separate? Is that what it is?

Correct.

Lucstar
4th-November-2005, 10:38 AM
Hmm...the U bid has been pulled.
What does this mean?

Kauri
4th-November-2005, 10:46 AM
Maybe it's been filled.

chicken
4th-November-2005, 03:15 PM
Maybe it's been filled.
Looks as if someone is buying..sp fell but back to 80 cents...all in small parcels...its being worked by someone hard

chicken
7th-November-2005, 10:30 AM
Looks as if someone is buying..sp fell but back to 80 cents...all in small parcels...its being worked by someone hard
we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia

chicken
7th-November-2005, 10:42 AM
we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia
Airview just had a article saying 2006 Steel market likely better than 2005 MERRIL says...the one manipulating..is doing it in stages...few sellers.....been going on for the last 6 weeks....very clever the way it is done ....

Kauri
7th-November-2005, 10:59 AM
we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia


Chicken....Ypu can put me down as one in on the manipulation conspiracy. :D Have sold out at .79c as for whatever reason there is no longer the momentum I need to remain in. I will be watching her though for a possible re-entry if conditions change.. Best of luck with yours. :)

chicken
7th-November-2005, 11:26 AM
Chicken....Ypu can put me down as one in on the manipulation conspiracy. :D Have sold out at .79c as for whatever reason there is no longer the momentum I need to remain in. I will be watching her though for a possible re-entry if conditions change.. Best of luck with yours. :)
Whatever you say...there is one buyer who is snapping away any shares at your price...same thing happened in ZFX....I hold as I am NOT a day trader....and my research says that the company is more than sound and so why sell as this company has some great announcements in the pipeline for December....its now the 4th largest Iron Ore producer...with over 1 billion tones of ore to export ..very profitable with great cash flow and their partner is Chinas 4th largest Iron producer...at this price its a definit hold.....So..some one can see what I can see.....a great profitable iron ore minig company.......with a cheap entry.....

Kauri
7th-November-2005, 11:34 AM
Chicken...I agree with you.. if I held MGX in my long term portfolio ( which I dont ) then I would still be in, but in my short and medium term holdings I need movement, either up or down, to justify staying in, otherwise I am tying up my trading capital when it could be better used on stocks with current momentum. :) Just the way I trade.

johnno261
7th-November-2005, 04:20 PM
Chicken...I agree with you.. if I held MGX in my long term portfolio ( which I dont ) then I would still be in, but in my short and medium term holdings I need movement, either up or down, to justify staying in, otherwise I am tying up my trading capital when it could be better used on stocks with current momentum. :) Just the way I trade.

You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

Kauri
7th-November-2005, 05:05 PM
You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

:D Yes johno I probably will be...I have looked back at some of my exits with the benefit of hindsight more than once and been sorry :swear: ...... however after the current conslidation (manipulation or whatever ) , if the momentum returns then so shall I. Until then I will be following what I identify as moving stocks. Its just the way I trade.

johnno261
7th-November-2005, 06:23 PM
:D Yes johno I probably will be...I have looked back at some of my exits with the benefit of hindsight more than once and been sorry :swear: ...... however after the current conslidation (manipulation or whatever ) , if the momentum returns then so shall I. Until then I will be following what I identify as moving stocks. Its just the way I trade.

By no means did I mean to rub it in, but i have experience of a fair bit of a trading behind me, and I know that when a company has such sound fundementals behind it such as MGX, you dont sell.It is my humble opinion and I do speak from experience as I have done the same as you before!!!!All a learning process!!!!

Kauri
7th-November-2005, 06:50 PM
You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

johno.... I hope you dont mind my asking but as a short term trader what was your entry signal on MGX and where do you have your stop set? Thanks

johnno261
7th-November-2005, 07:12 PM
johno.... I hope you dont mind my asking but as a short term trader what was your entry signal on MGX and where do you have your stop set? Thanks

I will be honest with you. Purchased 330,000 @ 61cents June/July,then purchased 370,000 June/July@ 67cents then purchased 300,000 @ 79.8average mid October everytime it dipped under 80cents!!
My stop loss is at 72cents!!!! Because I have such a big parcel I have allowed an extra 2 cents above my average.

Lucstar
7th-November-2005, 07:21 PM
Holy Sh*t Johnno,
Excuse my language, but thats one hell of a stake in a company. I look at your stake and then take a look at mine ($2000 worth) and i just cant help but wish i was you. Lol. I sure hope all goes well for us.

johnno261
7th-November-2005, 07:32 PM
Holy Sh*t Johnno,
Excuse my language, but thats one hell of a stake in a company. I look at your stake and then take a look at mine ($2000 worth) and i just cant help but wish i was you. Lol. I sure hope all goes well for us.

It is a big holding, however half of it is basically profit money that came from a large parcel of HDR's which I purchased mid year at $1.70 and sold at $2.25 and the other part came from a 30,000 parcel of BHP's at 17.90 and sold recently for exactly $3 profit per share @ $21.90.

el_ninj0
8th-November-2005, 08:25 AM
In my experiance, as soon as i sell a stock that i know will go up for what ever reason, it has always gone up and i have missed out on quite a few dollars. Im not going to make that mistake with this one as i know its got excellent prospects ahead.

If i had more hard earned, i'd be buying in right now aswell. Even though support is temporarily broken, it will come back soon in my opinion.

As per usual for mining, late november/december has alot coming in the way of announcments which should fuel a bit of movement in it.
I dont plan on selling out until atleast $1.10 and i think even then i would be cutting my feet short in the long run.

chicken
8th-November-2005, 10:20 AM
In my experiance, as soon as i sell a stock that i know will go up for what ever reason, it has always gone up and i have missed out on quite a few dollars. Im not going to make that mistake with this one as i know its got excellent prospects ahead.

If i had more hard earned, i'd be buying in right now aswell. Even though support is temporarily broken, it will come back soon in my opinion.

As per usual for mining, late november/december has alot coming in the way of announcments which should fuel a bit of movement in it.
I dont plan on selling out until atleast $1.10 and i think even then i would be cutting my feet short in the long run.
Well said....it opened at 80.5 cents....yesterday was a buy NOT a sell...there is someone trying to buy as many as cheap as possible....good announcements coming for December...I am holding as this up and down means B all to me...the brokers have a target of $1.25 on this stock and the valuations will bear it out...selling at 79 cents...as it has not really broke the trend line if it went below by 5% then yes it has but yesterday was a pure manipulation...sell some stock Cheaper and wait for the mugs to jump on....the profits this company will generate will be excelent.....have a look at Portman which is being taken over and you talking $5 plus at present...MGX at present prices are cheap...just my opinion....do your research and find out.....

chicken
8th-November-2005, 10:32 AM
I will be honest with you. Purchased 330,000 @ 61cents June/July,then purchased 370,000 June/July@ 67cents then purchased 300,000 @ 79.8average mid October everytime it dipped under 80cents!!
My stop loss is at 72cents!!!! Because I have such a big parcel I have allowed an extra 2 cents above my average.
Johnno, I own 200k shares and thought that is good but yours yes this one will do well for us..I think its the wait which sometimes gets you but MGX will be worth the wait..also I see the Goverments future fund of $170 billion will be invested in the local market so we are in for a ride..reading the BRW there is an article about the Chinese wanting to invest more heavy in the Australian market...and it looks as if a wall of money will hit the local market...so hold tight and enjoy the ride...its starting to get intresting........watch December....also on the technical side yesterday was just a sell down by a few shares hoping MUGS will jump on...did not quite work..they just picked up a few not many.......yhe trendline is still holding see todays opening price

Kauri
8th-November-2005, 12:04 PM
Johnno, I own 200k shares and thought that is good but yours yes this one will do well for us..I think its the wait which sometimes gets you but MGX will be worth the wait..also I see the Goverments future fund of $170 billion will be invested in the local market so we are in for a ride..reading the BRW there is an article about the Chinese wanting to invest more heavy in the Australian market...and it looks as if a wall of money will hit the local market...so hold tight and enjoy the ride...its starting to get intresting........watch December....also on the technical side yesterday was just a sell down by a few shares hoping MUGS will jump on...did not quite work..they just picked up a few not many.......yhe trendline is still holding see todays opening price

170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.

chicken
8th-November-2005, 05:25 PM
170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.
I got those figures from BRW November issue...all I know its a lot of money.... and see it was a buy yesterday...one can easly think the market goes down but as I said...you sold they are happy and the market goes up...I sold 20k shares in ZFX...made a profit but low and behold it just went up,,,,up and bl.up....but I was happy with my $$$ I made

Kauri
8th-November-2005, 06:20 PM
I got those figures from BRW November issue...all I know its a lot of money.... and see it was a buy yesterday...one can easly think the market goes down but as I said...you sold they are happy and the market goes up...I sold 20k shares in ZFX...made a profit but low and behold it just went up,,,,up and bl.up....but I was happy with my $$$ I made

Chicken...for me it was a sell...what was a buy was CSM, per my post in the CSM thread yesterday. CSM via cfd's @ $3.20 yesterday...out @3.33 today... around 35% return .2 trading days...MGX would have to have gone to $1.00 plus for me to get that return. Its not whether it goes up or down with me, its the momentum. Its just the way I trade. :bier:

johnno261
8th-November-2005, 07:03 PM
Chicken...for me it was a sell...what was a buy was CSM, per my post in the CSM thread yesterday. CSM via cfd's @ $3.20 yesterday...out @3.33 today... around 35% return .2 trading days...MGX would have to have gone to $1.00 plus for me to get that return. Its not whether it goes up or down with me, its the momentum. Its just the way I trade. :bier:

Correct me if I'm wrong Kauri, but $3.20 to $3.33 is roughly only 4% not 35%

Kauri
8th-November-2005, 07:24 PM
Correct me if I'm wrong Kauri, but $3.20 to $3.33 is roughly only 4% not 35%

johno...sorry if it was not clear...with cfd,s you put down a % of the trades worth, similar to margin trading.... so 31,000 CSM @ $3.2 would cost $99200. CSM is available at 10% so you put up $9920 plus commission. Selling 31,000 @ $3.33 gives you $103230 ....so 103230-99200 gives you a $4030 return on your $9920... and so after commission and interest for the 2 days held............:drink: My shout

chicken
8th-November-2005, 10:26 PM
170 billion....are you sure...I thought it was around 16 billion over the next couple of years, going to about 140 billion by 2020.
I checked where I got the information...it is written in tuesdays Brisbane Courier Mail in the business section..Costello being interviewed and thats where these figures came from.....as I said before there is a mighty lot of money will be seeking a home....just that you know by the way Kauri look at MAP and you get this small % movement all the time....

el_ninj0
9th-November-2005, 08:55 AM
Could be some interesting stuff going on this month if the banks are right.

------------------------------------------------------------------------
Bank flags 30pc iron ore rise

JOHN PHACEAS

Chinese sabre rattling over unacceptably high iron ore prices looks certain to fall on deaf ears when annual price talks resume this month, with fresh industry research indicating prices could rise another 30 per cent in 2006.

In two separate client notes, US investment bank Merrill Lynch said iron ore suppliers were still unable to keep pace with China-fuelled demand growth despite committing billions to upgrade the capacity of mines in the Pilbara and Brazil.

"China's ramp-up in crude steel capacity to an estimated 430 million tonnes by 2005 from 127 million tonnes in 2000 has put increasing pressure on Chinese and global iron ore supply, leading to a substantial increase in imports," the bank said.

It believed forecasts that Chinese ore imports would double from 208 million tonnes in 2004 to 420 million tonnes in 2010 were "way too conservative".

It did not change its base-case expectation that iron ore prices will rise 10 per cent in 2006 and remain flat in 2007, but said it now believed there was a strong chance prices could rise even more.

"Our forecast remains for a plus-10 per cent outcome, however the very tight market and large deficit we forecast is pointing to a potential 20-30 per cent settlement," Merrill Lynch said.

Merrill Lynch is the most bullish of the big investment banks on iron ore prices, but most are now predicting prices will rise 10-15 per cent next year ahead of a rollover in 2007.

That puts miners on a collision course with Chinese steelmakers, who are hoping prices will fall 5-10 per cent next year in the wake of February's massive 71.5 per cent jump.

But BHP Billiton has already flagged it could again seek an extra premium to recoup the so-called freight differential with supplies from Brazil. Australian ore already costs Chinese buyers about $US20 ($26) a tonne less to import than Brazilian ore because of the shorter shipping distance.

Still, freight rates have plunged in recent months and Merrill Lynch said a 10 per cent price rise could be claimed as a victory by both sides.

"Landed iron ore (prices) in China may prove to be at levels similar to those in 2005," it said.

But to boost their negotiating power and lock in future supplies, Chinese steelmakers have been aggressively investing in new iron ore mines, especially in Australia.

Andrew Forrest's Fortescue Metals Group, which is planning a $2.4 billion iron ore development in the Pilbara, and emerging WA miners Midwest Corporation, Murchison Metals and Mount Gibson Iron have all drawn substantial interest from Asian steel mills.

At Fortescue's annual meeting yesterday, Mr Forrest said he remained confident of securing financing for the 45 million tonnes a year project within four months.

"We believe that putting together the finance package is only a matter of time, and we have made very good progress, I think, on a number of fronts with that," Mr Forrest said.

"Unfortunately, because of the delicate nature of those discussions I can't be specific."

Fortescue's preferred option was to sell equity in its Chichester Range project to a major joint venture partner, and it was open to "all options", including potential partnerships with Chinese steel mills, he said.

Iron ore shares rose across the board yesterday. Rio rose $1.62 to $59.80, BHP climbed 26¢ to $21.35, Fortescue added 8¢ to $4.85 and Mt Gibson rose 2.5¢ to 81.5¢.

from: http://www.thewest.com.au/20051109/business/tw-business-home-sto132677.html
------------------------------------------------------------------------

Looking very interesting.

chicken
11th-November-2005, 02:05 PM
Once Rio,BHP negotiated the Iron ore price MGX will start moving again...at present one broker is playing this stock like a fiddle up and down.....its forecast that the price could rise as much as 20%....there was an anouncement by Rio that at present we have a slight shortage...so it will be intresting to see what happends in the next 2 weeks...MGX share price may knock up as high as $1....

laurie
11th-November-2005, 02:29 PM
Hi guys my first post please treat with care :)

When will MGX pay a dividend! does the market expert it or is it up to the directors appreciate any help

cheers laurie

johnno261
11th-November-2005, 04:16 PM
Once Rio,BHP negotiated the Iron ore price MGX will start moving again...at present one broker is playing this stock like a fiddle up and down.....its forecast that the price could rise as much as 20%....there was an anouncement by Rio that at present we have a slight shortage...so it will be intresting to see what happends in the next 2 weeks...MGX share price may knock up as high as $1....

So obvious someone is manipulating this stock at present to Buy in.Never before has there been a heavy sell side on MGX as it is now, and why would you even consider selling now. Like giving up in a marathon with the finish line in sight and I should know, thats one thing a strong determined mind does not do!!!!

MGX is about to move!!

Lucstar
11th-November-2005, 06:31 PM
I realise that MGX is being manipulated
But i dont quite understand how
How one of yous explain to me how you can manipulate MGX's share price in order to BUY IN
Could you give an example scenario so i can understand
Also, how can u tell its being manipulated or is it just market forces?

Much appreciated,

chicken
12th-November-2005, 11:45 AM
I realise that MGX is being manipulated
But i dont quite understand how
How one of yous explain to me how you can manipulate MGX's share price in order to BUY IN
Could you give an example scenario so i can understand
Also, how can u tell its being manipulated or is it just market forces?

Much appreciated,
How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

johnno261
12th-November-2005, 02:40 PM
How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

Don't expect a definate figure on Iron Ore pricing for 06/07 til 1st Quarter 06. Forecast realistically is around 10%. I much prefer to under estimate, because as we know, the market magnifies bad news at times. Any % increase should really be looked at as a BONUS!!

TheProphet
12th-November-2005, 04:21 PM
guys MGX has had price manipulation since MAY! Well in my opinion at least.

Pls note they are being offered as cfd's in the next couple of weeks. So we should see some serious action!!!

johnno261
12th-November-2005, 09:13 PM
guys MGX has had price manipulation since MAY! Well in my opinion at least.



Pls note they are being offered as cfd's in the next couple of weeks. So we should see some serious action!!!

E-Trade has MGX CFD's on the go!! Agree manipulation has been going since May. This will fly shortly. Resouce upgrades, Iron Ore Increases, BFS all go, forecast profits are huge, big Chinese backing. What a ride we are about to partake in!!!

johnno261
12th-November-2005, 09:30 PM
How can you tell....1 buyer 1 seller....same broker...he can sell it down or up...and this is what is happening...this manipulation has been going on fo 6 weeks...as soon as new prices are known for iron ore we will see some action here someone is buying in and taking a position..thats why the broker or trader is keeping it around 80 cents but not for much longer as the new iron ore price will be known..and the forecast is up to 20% increase in price....for iron ore...the company has 1 billion tones in the ground...should be moving soon....

Chicken, I have just been reading that China intends to spend 62billion dollars over the next 5 years on 6,000new trains and 1,500 kilometres of train lines.When i read this type of material, excitement about MGX overwhelms me!!! Strap yourself in for lift off!!!

chicken
14th-November-2005, 06:04 PM
Chicken, I have just been reading that China intends to spend 62billion dollars over the next 5 years on 6,000new trains and 1,500 kilometres of train lines.When i read this type of material, excitement about MGX overwhelms me!!! Strap yourself in for lift off!!!
I think this share will start showing some life..soon, as some serious money will come this way...CDFs...and iron ore price rise will fire up this one.....they are making good $$$$$....should flow through soon.....

el_ninj0
14th-November-2005, 07:16 PM
I think this share will start showing some life..soon, as some serious money will come this way...CDFs...and iron ore price rise will fire up this one.....they are making good $$$$$....should flow through soon.....

I dont think this will move until the iron ore prices are released now. It had its chance, but didn't do anything. So until december/january we wont see alot of movement IMO.

Can anyone tell me how the brokerage firms decide to cfd on companies?
Any why is mgx getting added to cfd's now and hasn't been before?

Thanks.

keepitreal
14th-November-2005, 08:46 PM
Chicken,

how can you tell if the buyer an seller are the same broker.. i use power etrade do i have the ability to see this?

laurie
14th-November-2005, 09:03 PM
I would also like to know that keepitreal? I use Commsec it's market depth just has numbers against buy/sell!

cheers laurie

Kauri
15th-November-2005, 03:04 AM
Chicken, I have just been reading that China intends to spend 62billion dollars over the next 5 years on 6,000new trains and 1,500 kilometres of train lines.When i read this type of material, excitement about MGX overwhelms me!!! Strap yourself in for lift off!!!

Why.... :confused:
I would be looking for the company that can get $62,000,000,000 for 1500 km of track and 6000 trains and putting everything I had on it. :D

johnno261
15th-November-2005, 06:51 AM
I dont think this will move until the iron ore prices are released now. It had its chance, but didn't do anything. So until december/january we wont see alot of movement IMO.

Can anyone tell me how the brokerage firms decide to cfd on companies?
Any why is mgx getting added to cfd's now and hasn't been before?

Thanks.

El ninjo, you will see alot of S/P movement before the finalised Iron Ore Price agreements are agreed upon. Can't say any more!!

chicken
15th-November-2005, 10:32 AM
El ninjo, you will see alot of S/P movement before the finalised Iron Ore Price agreements are agreed upon. Can't say any more!!
Johnno261...what you are saying is what I can see...its sticking out like a thumb print...this SP will move suddenly very much...some one is buying like mad to get them at 80 cents....must be a broker who sees what I can...and as soon as it moves higher the buyer relieases shares on to the market....to keep the price at around 80 cents...and after studying the chart since May someone is been playing this game and buying like mad....see those bigger parcels a week back.....so it will get very intresting soon.......

chicken
15th-November-2005, 10:45 AM
Chicken,

how can you tell if the buyer an seller are the same broker.. i use power etrade do i have the ability to see this?
Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP<DEEP pockets.....look at BRW november 10th..December 7 2005 issue page 24...the big Brazilian...CVRD....and it would suit them to buy this company as they also supply Iron ore...after all they are the largest in the world...this is a thought on the subject,,,,after all Tim Treadgold wrote the article

chicken
15th-November-2005, 05:07 PM
Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP<DEEP pockets.....look at BRW november 10th..December 7 2005 issue page 24...the big Brazilian...CVRD....and it would suit them to buy this company as they also supply Iron ore...after all they are the largest in the world...this is a thought on the subject,,,,after all Tim Treadgold wrote the article
Look at Tradingroom the sales and the last sale was for 10000 shares at 80 cents...all the rest look how many shares were sold a lot of parcels at 51 shares 162 shares...just blatant manipulation by a broker...check it out...unbelievable...there you can see its a broker who is playing or taking a strong position...or wanting to take the company over this is been happening since MARCH.....how much stock has the broker aquired at 80 cents? as it seems to be happening everyday so far....check it out at tradingroom...depth of sales......and a couple parcels of 100k shares all bought quickly

chicken
16th-November-2005, 09:52 AM
Just had news from Google re MGX...looks as if BHP,RIO,CRVS...are negotiating for an increase of 15.5% ....MGX said if they missed a shipment it usually is taken from them within a few hours the market is tight....MGX as they are smaller than the 3 large companies sells at prices negotiated by the 3....if thats the case we will soon see a movement in the SP..I am holding

el_ninj0
16th-November-2005, 09:58 AM
Just had news from Google re MGX...looks as if BHP,RIO,CRVS...are negotiating for an increase of 15.5% ....MGX said if they missed a shipment it usually is taken from them within a few hours the market is tight....MGX as they are smaller than the 3 large companies sells at prices negotiated by the 3....if thats the case we will soon see a movement in the SP..I am holding

Chicken, can you post the link to that article please?

chicken
16th-November-2005, 10:17 AM
Chicken, can you post the link to that article please?
go to Google search..type in mt gibsonironore....and you will get all the Mt gibson articles on the subject...you can go on their alert email and they send it to you as soon as news are out..looks as if iron ore will rise further in price...good for MGX

Yippyio
16th-November-2005, 10:55 AM
Recent changes in directors interests;

Craig redhead - Sold 100 000 ordinary shares
Luke Tonkin - Issued 5 000 000 options
Alan Rule - Issued 2 000 000 options

chicken
16th-November-2005, 12:14 PM
Recent changes in directors interests;

Craig redhead - Sold 100 000 ordinary shares
Luke Tonkin - Issued 5 000 000 options
Alan Rule - Issued 2 000 000 options
what you forgot to post Craig Redhead still owns nearly 1000000 shares so he sold some to get some cash....not a big deal

Kauri
16th-November-2005, 12:43 PM
Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP........

If the big Brazilian wants in they had better hurry up.....



15 September 2005

The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000
MOUNT GIBSON IRON REVISES TERMS OF PROPOSED JOINT VENTURE WITH SHOUGANG GROUP




Mr Brian Johnson, Managing Director of Mount Gibson Iron Limited (ASX Code “MGX”) advises that negotiations with the Shougang Group to jointly develop the Extension Hill Magnetite Project at Mt Gibson are progressing satisfactorily. The Participation Agreement with Shougang has been revised to incorporate the following: • agreement by Shougang that it intends to take up a 50% shareholding in the slurry pipeline to be constructed between Mt Gibson and Geraldton in addition to a 50% interest in the mine development. The revised equity contributions including that for the pipeline are as follows:

Shougang Group: A$174 million
MGI Group: A$74 million plus past costs, BFS, and mining leases
• agreement by Shougang that it is basically satisfied in relation to its technical due diligence review of the project;
• extension of time for completion of the Bankable Feasibility Study (“BFS”) to 15 December 2005 to allow China Metallurgical Construction Corporation (“MCC”) to submit an offer for the turnkey construction of the crushing plant and concentrator for the project;
• joint reviews of the BFS to be conducted in mid October and mid November 2005 before its finalisation in December 2005;
• elimination of any specific financial or technical outcomes in the BFS as a prerequisite to Shougang’s investment;
• repricing of Shougang’s (or its nominee) option to subscribe for up to 15% of MGX’s issued shares (approximately 60 million shares) at a fixed price of 75 cents per share (conditional upon Shougang taking up a 50% interest in the project); and
• Shougang having the right to complete the contemplated transactions at any time up to 31 January 2006.
Mr Johnson said that the two month delay to completion of the BFS should not impact on the development schedule for the Project as engineering design was being progressed on most longlead items and mine prestripping at Extension Hill was still scheduled to commence in the second quarter of 2006. He also said that he was confident Shougang would give final notice of their unconditional commitment to participate in the project, earlier rather than later. Joint negotiations with project financiers will commence next month. Shougang should be an ideal partner for Mount Gibson Iron as they have extensive experience in mining and concentrating magnetite ores at their major mines in China and Peru, and are providing constructive input to the BFS.
Yours sincerely,
MOUNT GIBSON IRON LIMITED
Angela Dent
Company Secretary
Enquiries: Mr Brian Johnson or Mr Alan Rule
Managing Director Finance Director
Telephone: 61 8 9426-7500
Email: admin@mtgibsoniron.com.au

chicken
16th-November-2005, 06:12 PM
[QUOTE=chicken]Some one is buying as many shares as possible at 80 cents....what the broker or trader does if price rises...puts some shares back into the market at say 79.5 cents to keep the market at that price....but for how long this is been going on since MAY.....maybe, wanting a takeover at a certain price....the big Brazillian is scouting the iron companies..they are starting coal mining in Queensland..and THEY HAVE DEEP........

If the big Brazilian wants in they had better hurry up.....



15 September 2005

The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000
MOUNT GIBSON IRON REVISES TERMS OF PROPOSED JOINT VENTURE WITH SHOUGANG GROUP




Mr Brian Johnson, Managing Director of Mount Gibson Iron Limited (ASX Code “MGX”) advises that negotiations with the Shougang Group to jointly develop the Extension Hill Magnetite Project at Mt Gibson are progressing satisfactorily. The Participation Agreement with Shougang has been revised to incorporate the following: • agreement by Shougang that it intends to take up a 50% shareholding in the slurry pipeline to be constructed between Mt Gibson and Geraldton in addition to a 50% interest in the mine development. The revised equity contributions including that for the pipeline are as follows:

Shougang Group: A$174 million
MGI Group: A$74 million plus past costs, BFS, and mining leases
• agreement by Shougang that it is basically satisfied in relation to its technical due diligence review of the project;
• extension of time for completion of the Bankable Feasibility Study (“BFS”) to 15 December 2005 to allow China Metallurgical Construction Corporation (“MCC”) to submit an offer for the turnkey construction of the crushing plant and concentrator for the project;
• joint reviews of the BFS to be conducted in mid October and mid November 2005 before its finalisation in December 2005;
• elimination of any specific financial or technical outcomes in the BFS as a prerequisite to Shougang’s investment;
• repricing of Shougang’s (or its nominee) option to subscribe for up to 15% of MGX’s issued shares (approximately 60 million shares) at a fixed price of 75 cents per share (conditional upon Shougang taking up a 50% interest in the project); and
• Shougang having the right to complete the contemplated transactions at any time up to 31 January 2006.
Mr Johnson said that the two month delay to completion of the BFS should not impact on the development schedule for the Project as engineering design was being progressed on most longlead items and mine prestripping at Extension Hill was still scheduled to commence in the second quarter of 2006. He also said that he was confident Shougang would give final notice of their unconditional commitment to participate in the project, earlier rather than later. Joint negotiations with project financiers will commence next month. Shougang should be an ideal partner for Mount Gibson Iron as they have extensive experience in mining and concentrating magnetite ores at their major mines in China and Peru, and are providing constructive input to the BFS.
Yours sincerely,
MOUNT GIBSON IRON LIMITED
Angela Dent
Company Secretary
Enquiries: Mr Brian Johnson or Mr Alan Rule
Managing Director Finance Director
Telephone: 61 8 9426-7500
Email: admin@mtgibsoniron.com.au




Looks as if I have eggs on my face..the Chinese must be the buyers or a broker...some one is buying as many as they can get...price should move soon...just my thoughts

chicken
17th-November-2005, 06:37 PM
Talk about selling a share down....seller at 78 cents only 123 shares.. 1 seller. also 1 seller at 78.5 cents 25000 shares...that broker or trader would have a buy order in at 77.5 cents.....so if you want more shares at lower prices you just walk them up or down....as soon as we get a better update from mgx the sooner the Sp will react.....this is a sound company with a hugh upside....the Chinese have to take up their half of the business by January 2006...so watch this space......

TheAnalyst
17th-November-2005, 07:45 PM
Talk about selling a share down....seller at 78 cents only 123 shares.. 1 seller. also 1 seller at 78.5 cents 25000 shares...that broker or trader would have a buy order in at 77.5 cents.....so if you want more shares at lower prices you just walk them up or down....as soon as we get a better update from mgx the sooner the Sp will react.....this is a sound company with a hugh upside....the Chinese have to take up their half of the business by January 2006...so watch this space......

Hi Chicken

Are there expected and reliable projections of increased ore sales? If so how much percentage have they placed on volume to increse by for the next 5-6 yrs?

johnno261
18th-November-2005, 07:36 AM
AGM today !!! Hopefully our "Buy" side can look a little stronger Today, but it is to be expected I guess with Shougang taking up there % of MGX.Manipulation still going on. Would'nt it be great to see that window of opp. for Shougang's Broker dissappear with some really good news that will shoot the S/P up and they can pay more for it, which will benefit the existing shareholders and the PTY LTD!!!!!!!

johnno261
18th-November-2005, 08:02 AM
Just been reading an actual excerpt from some big name analysts and Brokers regarding the Iron Ore Price Negotiations for 06/07 and quite simply they said prices will increase.
LINK:
Go to HotCopper and the posting was by andrewa under the mgx heading posted in the last couple of days! Interesting reading!!!!!!!!!
A very tight supply of iron ore is the industry standard at present!!!! GOOD!!

chicken
18th-November-2005, 09:48 AM
Hi Chicken

Are there expected and reliable projections of increased ore sales? If so how much percentage have they placed on volume to increse by for the next 5-6 yrs?
It is well known..and read what the company said that they are stepping up production to 5 million tons read their news....and as Johnno posted that the AGM meeting takes place today some intresting news will come out..someone is keeping this sp to abot 75cto 80cents one does not have to be a rocket scintist it sticks out...as soon as the sp rises a seller comes in something is up we will see today.....also one seller at 68 cents just to keep the price down check it yourself....hoping someone will jump in to sell :2twocents

el_ninj0
18th-November-2005, 11:03 AM
Just been reading an actual excerpt from some big name analysts and Brokers regarding the Iron Ore Price Negotiations for 06/07 and quite simply they said prices will increase.
LINK:
Go to HotCopper and the posting was by andrewa under the mgx heading posted in the last couple of days! Interesting reading!!!!!!!!!
A very tight supply of iron ore is the industry standard at present!!!! GOOD!!

Good little article there on HotCopper johno. I wonder if they will mention the iron ore price rises in the AGM today. Is anyone going? Will be interesting to see the result of the AGM.

Looks like there is increased buying out there already at the moment. MGX is up 2cps currently.

johnno261
18th-November-2005, 05:23 PM
AGM presentation out after market.Everything look good. 3m tonnes next year at higher prices and all the ongoings make this stock look cheap at present. Talk about Brazils CRVD wanting to take aquisitions in the Iron Ore Sector in Australia. A poss. T/O target?

chicken
18th-November-2005, 05:28 PM
AGM presentation out after market.Everything look good. 3m tonnes next year at higher prices and all the ongoings make this stock look cheap at present. Talk about Brazils CRVD wanting to take aquisitions in the Iron Ore Sector in Australia. A poss. T/O target?
Well what do you know read what I said in post 207.....I sometimes see things which by looks of it was right on the button....great news...the buyers will start looking now.....goodunyou Johnno

wags
18th-November-2005, 05:36 PM
These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.

RichKid
18th-November-2005, 05:51 PM
These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.

Don't worry wags, it's just our resident jnr resources punters getting excited with Mr 'make your own research' Chicken leading the pack! (was it fleeta that coined that term for chicken?).

Incidentally, that quote from Newton, which I love, is a result of the South Sea Bubble (lots of good books on it), found this on the web, thanks for posting it, a timely warning in times of euphoria:

"I can calculate the motions of the heavenly bodies, but not the madness of people."
Isaac Newton, after losing his savings in the South Sea Bubble of 1720.

chicken
18th-November-2005, 05:52 PM
These stories always make me laugh. Since we dont have crystal balls etc, the only thing we have to go off are the facts of today.

I can calculate the motions of heavenly bodies, but not the madness of man, Sir Isaac Newton wrote in 1721.
Whatever..I just pointed out that The Big Brazilian is looking at MGX....which it is....now what do you know......as a partner they would turn this company on its head...unlimited money there for whatever... I might be wrong...but the Chinese connection once its all sorted should spurn this share a lot higher.....as well...so its a win...win situation whatever happens.

johnno261
18th-November-2005, 06:50 PM
Whatever..I just pointed out that The Big Brazilian is looking at MGX....which it is....now what do you know......as a partner they would turn this company on its head...unlimited money there for whatever... I might be wrong...but the Chinese connection once its all sorted should spurn this share a lot higher.....as well...so its a win...win situation whatever happens.

I ask the question,"Would CRVD take over BHP?" Doubt it
"Would CRVD take over RIO?" Doubt it
3rd in line would be Portman, na US mob Cleveland now in ownership!!
4th largest current producer earning serious profits MGX?
AZR they are strugglin to even start an operation.(Not in production)
FMG a possibility(Not in production for a few years,30months or so)
MMX another possibility(Not in production for sometime)
Who knows!!!! What I do know is that S/P movement is not far off and the Chinese interest is what excites me, with big capital behind them!!!!

laurie
18th-November-2005, 07:05 PM
Is anyone here bold enough to suggest what price it can reach in the short term!!

cheers laurie

johnno261
18th-November-2005, 08:09 PM
Is anyone here bold enough to suggest what price it can reach in the short term!!

cheers laurie

Would be silly for any of us to start predicting.We are in the hands of the brokers at present with the manipulation and accumulation scenarios being played out!!!!

RichKid
19th-November-2005, 12:10 AM
Here's some scribbling on charts for those who like technical views. Next week will be pivotal as it's near the end of the triangle. The charts are of the top of a formation which culminated after a very strong move from very low prices, so penny stocks do get on with it from time to time, and in a big hurry as this one shows.

johnno261
19th-November-2005, 08:55 AM
Here's some scribbling on charts for those who like technical views. Next week will be pivotal as it's near the end of the triangle. The charts are of the top of a formation which culminated after a very strong move from very low prices, so penny stocks do get on with it from time to time, and in a big hurry as this one shows.

Thanks RichKid for your charts.Always good to peruse at everybodys parts of the jigsaw puzzle!!!! Thanks Regards Johnno

chicken
20th-November-2005, 01:53 PM
Here's some scribbling on charts for those who like technical views. Next week will be pivotal as it's near the end of the triangle. The charts are of the top of a formation which culminated after a very strong move from very low prices, so penny stocks do get on with it from time to time, and in a big hurry as this one shows.
Rich kid thanks for the charts...why I say its going up...well the Chinese are now taking a positive position..and whoever is been taking a position since March..all will be revealed as they have a positive cashflow...and are now gearing up to deliver 5 million tones p/y in iron ore to China all I can see it is positive for MT gibson iron ore....so as far as I can make out its positive for the company also see their latest announcements its looking good :2twocents

el_ninj0
21st-November-2005, 05:03 PM
Fairly low volume today and not alot of change, down 1c at close at 79.5cps.
Not much to comment on, AGM went fine, with one slight hickup(3mpta set back to mid 06 instead of early 06), but all seemed according to plan. Cant see why it hasn't really moved yet, disapointing really....

markrmau
21st-November-2005, 05:18 PM
Don't worry, Nanjing pellet thingy coming up. Should bump trading range up to 88-95 cps. I think there still be good demand for iron ore next year. Everyone is over producing steel.... The Chineese are trying to talk prices down, but if they don't like futures prices, tell them to buy on the spot market LOL.

chicken
21st-November-2005, 05:19 PM
Fairly low volume today and not alot of change, down 1c at close at 79.5cps.
Not much to comment on, AGM went fine, with one slight hickup(3mpta set back to mid 06 instead of early 06), but all seemed according to plan. Cant see why it hasn't really moved yet, disapointing really....
El ninjo...somone has set a bear trap as soon as the Chinese on board which looks all set to go SP should move for us in the right direction...like gold which if you look at Kitcometals is going higher today....this is a bear trap....I am holding and when it moves it will rise quickly..... :2twocents

powwww
21st-November-2005, 09:20 PM
I've read some conflicting reports. Proponents to shares like MGX are stating that iron ore prices will definitely increase. Whereas the opponents seem more sceptical to this notion and argue that iron ore is overpriced.. Chicken, or others could you point me to a recent assesment which states iron ore prices are due to peak in the future..

Regards

RichKid
21st-November-2005, 10:39 PM
Chicken, or others could you point me to a recent assesment which states iron ore prices are due to peak in the future..
Regards

There is a thread I started on ASF in General Chat on the Commodities Super Cycle, one of the analysts I refer to (A commodities bull who manages a listed commodities funds: read that as 'biased') in that thread says most analysts understimate iron ore price rises.

My issue is not with whether or not the iron ore prices will rise but what the sp will do (it may have factored it in already), remember, charting wise as Dow said, the charts discount everything (or something to that effect). Still, it's in an uptrend and hasn't broken support.

Glad you liked the charts johnno/chicken, still no long signal for me. BTW, if anyone has fibonacci tools might be helpful to post a chart with the levels shown.

johnno261
22nd-November-2005, 08:02 AM
I've read some conflicting reports. Proponents to shares like MGX are stating that iron ore prices will definitely increase. Whereas the opponents seem more sceptical to this notion and argue that iron ore is overpriced.. Chicken, or others could you point me to a recent assesment which states iron ore prices are due to peak in the future..

Regards

Powwww, clearly everybody has underestimated Iron Ore Prices, and secondly a big underestimation of China's Growth!!!
As for Iron Ore being overpriced, the demand for the material will dictate that!!! The fact that there are only 3 Big Time Company's -RIO,CVRD,BHP, that supply a big slice of the worlds Iron Ore, they in essence have a monopoly on the market! Supply is in their hands!!!!

johnno261
23rd-November-2005, 08:41 AM
Watch MGX Boys/Girls in the next few trading days!!!

Lucstar
23rd-November-2005, 01:28 PM
Watch MGX Boys/Girls in the next few trading days!!!

What makes you say that johnno?

Kauri
24th-November-2005, 04:18 PM
China, miners headed for price showdown


November 23, 2005 - 9:11PM


Iron ore miners and Chinese steel mills are headed for a showdown over annual price negotiations with China tipped to demand lower iron ore prices.
Many Chinese steel mills are struggling to hold their heads above water after this year's 71.5 per cent increase in the benchmark price of iron ore, according to China's biggest steel maker Baosteel.

The big three iron ore miners, Australia's BHP Billiton and Rio Tinto and Brazil's CVRD, negotiate annually with Chinese and Japanese steel mills to secure benchmark prices, which will be settled early in 2006.

Japan traditionally sets its benchmark prices first and AME Mineral Economics associate director Dallas Horadam is tipping Japanese mills will agree on a higher price for iron ore supply.

"AME forecasts a 20 per cent price rise for fines (iron ore) in Japanese financial year 2006," Mr Horadam said.

"It depends on how negotiations go but there are a lot of potential different outcomes."

However industry consultancy Caiani & Co director Carlo Caiani believed China, which has now overtaken Japan as the world's largest importer of iron ore, would not agree to higher prices and was instead pushing for a price reduction.

He said as China grew its own domestic iron ore production it had more bargaining power with the big three miners.

"We firmly believe that they are gearing up for one of the hottest, contested, iron ore price negotiations we have seen in a long while," Mr Caiani said at the Asia Pacific Iron Ore Conference.

"They will increase their own production because at crazy prices like we have today it is actually cheaper for them to produce their own."

Major Chinese steel mills were still angry at BHP Billiton which tried to secure an additional 10 per cent increase on top of the 71.5 per cent hike earlier this year, he said.

BHP Billiton pushed for higher prices to bring it into line with the price of other countries' iron ore, which included higher freight costs.

Mr Caiani said he expected BHP Billiton would again push for the freight differential rate, but thought they would not get it.

"We are predicting a 20 per cent reduction in iron ore prices this year," he said.

Instead he tipped China would import more ore from Brazil, India and Russia, reducing its intake from Australia.

AME's Mr Horadam said the Chinese market was over-supplied currently but overall the market remained tight.

Ding Shouhu, the deputy general manager of the raw materials department at China's largest steel mill Baosteel, said steel output had now overtaken demand in China.

Mr Ding expected a lower growth rate in consumption in 2006 but the fast growing real estate and construction sectors would continue to increase steel use.

© 2005 AAP (http://www.theage.com.au/notebn/aap.html)

johnno261
24th-November-2005, 08:32 PM
In my honest humble opinion, I do think that the Chinese are playing funny buggers at present, however having said that, BHP,RIO & CVRD are on the ball, so i am sure they are going to push for the best outcome regardless!!!

After reading that article, I have confused thoughts which I'm sure the rest of you have too!!

MGX fundamentals I guess will not change regardless of price rise or not!!!

chicken
25th-November-2005, 09:08 AM
In my honest humble opinion, I do think that the Chinese are playing funny buggers at present, however having said that, BHP,RIO & CVRD are on the ball, so i am sure they are going to push for the best outcome regardless!!!

After reading that article, I have confused thoughts which I'm sure the rest of you have too!!

MGX fundamentals I guess will not change regardless of price rise or not!!!
You said it...MGX fundamentals will not change...as they are now in positive CASHFLOW....and NO DEBTS.....as they further develop so will their SP reflect Value.....brokers have a $1.25 value on this stock....see www.mtgibsoniron.com.au and all been valued by a broker...so we can expect a price increase of 50%..someone is working this sp as the Chinese will be paying 75cents for 60 million shares....I can see upside here to at least 50%...as for the information I have got

chicken
25th-November-2005, 04:56 PM
You said it...MGX fundamentals will not change...as they are now in positive CASHFLOW....and NO DEBTS.....as they further develop so will their SP reflect Value.....brokers have a $1.25 value on this stock....see www.mtgibsoniron.com.au and all been valued by a broker...so we can expect a price increase of 50%..someone is working this sp as the Chinese will be paying 75cents for 60 million shares....I can see upside here to at least 50%...as for the information I have got
I am just reading XSTRATA looking to buy into IRON ORE miners just wondering if they have been playing the two step with MGX...would not be surprised....they are on a lookout....quite frankly I dont like them to have on the register....they cut you to pieces...my shares are not for sale at present prices.

johnno261
25th-November-2005, 07:40 PM
I am just reading XSTRATA looking to buy into IRON ORE miners just wondering if they have been playing the two step with MGX...would not be surprised....they are on a lookout....quite frankly I dont like them to have on the register....they cut you to pieces...my shares are not for sale at present prices.

Chicken, can you please show me the link to the XSTRATA stuff re IRON ORE aquisitions. Cheers

chicken
26th-November-2005, 04:23 PM
Chicken, can you please show me the link to the XSTRATA stuff re IRON ORE aquisitions. Cheers
I read it in mining news.net dated the 25th Nov 2005 their website www.aspermont.com and they give you a free trial...anyway its on their website......I only get a page now everyday of their latest development...check it out :2twocents

johnno261
26th-November-2005, 08:02 PM
I read it in mining news.net dated the 25th Nov 2005 their website www.aspermont.com and they give you a free trial...anyway its on their website......I only get a page now everyday of their latest development...check it out :2twocents

Thanks Chicken. I actually found some stuff on XSTRATA's interest in aquiring Iron Ore P/L's. via GOOGLE NEWS page!!!!! Cheers Again

Lucstar
28th-November-2005, 06:26 PM
Hmmm...not a bad day of trading today. Haven't seen this sorta movement in a while. Perhaps we're about to take off. Or will the manipulator kick back into action? Will be interested to see what happens tommorrow

johnno261
28th-November-2005, 07:09 PM
Hmmm...not a bad day of trading today. Haven't seen this sorta movement in a while. Perhaps we're about to take off. Or will the manipulator kick back into action? Will be interested to see what happens tommorrow

Indeed, tomorrow will be an interesting day. It will confirm a breakout status. Hopefully it won't get sold back down to 79/80 as has been the case for the past 8 weeks whilst this accumulation stage has been taking place.
Ready for take off!!!!

Lucstar
28th-November-2005, 07:15 PM
Fingers crossed.
Enjoy the ride guys....if there is a ride