china growth

Freeart another important consideration as to whether you still hold or sell MGX must include China within that overall equation.
China is responsible for producing an astonishing 3/4 of the worlds wealth over the past 3 years and given their economony is contracting (due to developed countries financial mismanagement and associated consumer demand decline)their GDP is expected to fall below 8 % which was last seen in 2004.
Iron Ore $$ and volume simply cannot stand up to such drop in considerable China /Western country demand.

Unless MGX can negotiate new contracts with large steel mills elsewhere or gain support from investment banks they are in severe strife.

Cars /Buildings /Construction work are all being suspended or cancelled from production plans... These are tell tale signs on the prognosis for iron ore and therefore MGX.