mgx gets speeding ticket from asx, page-8

re: shougang deal if Shougang does buy in the 5 Mtpa magnetite project goes ahead which I think Shaws has attributed a value of 50 cps - $1.00 (this report is a year old, since then capital costs have increased so this figure should be reduced somewhat)....there is also the pellet project which is completely independent of the magnetite decision and should also provide a big boost for the stock should it be given the green light, which seems likely.

From a fundamental perspective it seems undervalued even should neither project go ahead, strategically it is beautifully placed with strong Chinese ties, is the 4th biggest iron ore producer in Australia with exploration upside, particularly when Chinese are keen to break the near monopoly over prices held by BHO-RIO-CVRD....but do your own research, it has risk it is a one commodity company, I am very comfortable holding at these levels.