MGX - Mount Gibson Iron

[The Barbarian Investor]

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]

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..

[Jay-684]

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]

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]

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]

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]

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]

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]

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]

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]

I was going to buy Caltex @ around $8 a share. It's still probably a good buy at $15 around share though.

[blake]

is it worth buying this one now or too late?

[el_ninj0]

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]

Anyone have some ideas as to why the price of MGX dropped by around 10% today?

[kpgduras]

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/egoliN...6AF88A54B0A%7D

kpgduras

[el_ninj0]

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/egoliN...6AF88A54B0A%7D

kpgduras

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

[kpgduras]

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]

Barbarian, your going to wish you bought in yesterday.

[The Barbarian Investor]

Hi el-Ninjo

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

[el_ninj0]

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,