Ann: Secondary Trading Notice, page-3

Flip

My "newly acquired" shares have hit my account - so you are probably correct.

There is a good chance volume selling may continue for a while with those seeking a quick buck and taking a 100% profit on their "new" shares at this early stage....others like me have taken the opportunity to reduce my average buy in price.

At .002c, MGT, has a paltry market cap of circa $4m which seems ludicrous for the 3.9B tonnes we have already proven in the ground.

In addition, there is a further 100kms of similar ground that remains unexplored - so for me there appears to be plenty of upside if the Board can get the next step right and select the most suitable J/V partner.

There appears to be outside interest in this particular project with World demand for high grade magnetite remaining strong and likely to increase with steel mills being forced to clean up their act and doing their bit for a cleaner environment.

MGT has had its magnetite ore pellets tested to 68.8% Fe which is well above the grades of iron ore being exported from the Pilbara in Western Australia and from the other major iron ore exporting nations.

With $1.2m+ in the Bank right now the Company has time on its side.

Even at 2c per share it would suggest a market cap of circa $40m - not out of the question at this early stage IMO.

My shares will remain firmly in my drawer - I remember FMG from the very early days onwards !

Interesting times ahead....all in my opinion of course.