MGX, MOUNT GIBSON IRON LIMITED

[cooderman]

MGX is worth looking at on any pullback to 31c. https://www.businessinsider.com.au/iron-ore...l-market-2017-6

[jbmurc]

In Reply To: mercury's post @ Feb 10 2016, 04:39 PM

About to pop IMHO

[mercury]

In Reply To: early birds's post @ Feb 8 2016, 04:43 PM

SORRY ....DIDN'T NOTE THE DATE.

[early birds]

In Reply To: mercury's post @ Feb 8 2016, 07:09 AM

hi murcury
if you look at the post----it was more than one years ago when i did it.
i guess i put them in the same basket only because they are all small producers at that time.
now if you dig into their balance sheet and cost base you can see the big deference after big dive for IO price
seems over supply will with us for a while...

good luck if you in MGX!!

[mercury]

MGX is holding its own....EB don't know why you would put MGX in the same bag as AGO.

Can you illucidate a bit?

thanks

[early birds]

In Reply To: wren's post @ Dec 5 2014, 10:42 PM

wren
these phone calls is a month before things, you know how i lost the bet on AGO, not long ago.
i called my buddy after i took the loss and ask him "what f#$%$^ is going on with your IO restocking story"{ with chinese}
he seems lost and confused like me WTF . that is why i not dare to buy these little IO stocks again, cheep as they are{ i meant to say huge value in it}
try to trade less now as i just locked in big win not long ago. from bet on chinese market maily A50 and some bank of china stocks.
i had bad habit------ after good win and start do some reckless trade.....these invincible feelings. you know how it is!!

[wren]

In Reply To: early birds's post @ Dec 5 2014, 07:15 PM

EbThanks for your information.I have never said or implied that there is little demand for Iron Ore.My feeling is that AGO etc are tiddlers compared to the big three.These big guys can,and have ramped up production quickly.Importantly they can do this at much lower cost per ton.There is no shortage of Iron ore in the world,so it is a matter of who can produce it at the lowest cost.If this is all true,the small Iron Ore producers have a tough gig.Just my thoughts!

[early birds]

In Reply To: wren's post @ Dec 5 2014, 04:15 PM

wren
i had phone call to china back and forth , they told me that "port probe is over" and stock pile is low, these port have to doing big re-stocking.
so i thought it sure will jag up IO price in short term{before year end}. then i made my "sure bet" with AGO.
the results is my finger got burned.
but don't tell me these little thing dosn't have good value at their current price. only thing is i'm not rich enough to raid them.
because i know the world might not need gold and silver but they do need IO---plenty of it.
apart from china{net steel exporter}, you have INDIA, INDONESIA, VIETNAM, AFRACA, SOUTH AMERRICA..eg.... all need better life {basic infrastructure}, better living condition....
i had bag full RIO, but can't help to think AGO MGX BC, these little thing have big value. just that i can't have them....

[wren]

In Reply To: mcart117's post @ Dec 5 2014, 01:07 PM

Not sure which company you are referring to.None of these IO producers are making money.Why would anyone wish to buy them?I suspect the reason is that when PIO 'returns to normal' they would be bargains.The problem is that the new normal may be a price where the assets have no real value.Seems to me that most commentators have not considered this possibly.
Eb...AGO has a bit of cash,but also has plenty of debt for a company with a market cap. Of $150 million.Rolling that debt over may be a step too far...but that is in the future.Said it before:RIO,BHP and Vale will be the winners here.qq

[early birds]

In Reply To: mcart117's post @ Dec 5 2014, 01:07 PM

i thought AGO had enough cash itself when i last bet on at 27cps. have to take loss at 22cps.
market seems think otherwise as AGO is 15cps ---not far from 14cps as CITI tag it not long ago.
so MGX will face same brush as we can see today.
small fish like us don't have enough money to raid these supper bargains. too bad!!
i saw IO price was over usd#71 or something . but mo one gives hoot anymore.