MGX and GRR. Performance comparison Q4 2021, page-2

Great post wanderer but I wanted to pull you up on a few matters of fact that add weight to the discussion.

- We had more than one mine in operation last Qrt despite reports or announcements made in April to the contrary

- We are currently shipping 67% FE after removing the waste this has not just happened over night either. We are well ahead of schedule in this regard.

- GRR management is mandated to pay a divvy of 20 -25%. However doesn't meet this promise. It doesn't know what to do with its cash and dare I say it's management have recently taken a severe beating by shareholders on account of their unwillingness to pay the divs they promised, a promise that encouraged many an investor to part with their hard earned;

- I would say that management at GRR have no idea what to do with South Down and given that they are effectively trapped by the Sino management that is also its largest off take buyer - they are unable or unwilling to do what is necessary to get that up and running on their own.

- MGX management has shown it can deal with the challenges it is faced with and are steaming forward with a range of productive concurred projects.

- MGX management is able to pursue a range of highly productive value adding projects that will see it become a very sort after cash making machine, a sort of must have for very well read fundies

- It should be noted that I own a large list of large cap, mid cap and Jrn miners as well as Explorers in various stages. My main thematic is the post CV economic reconstruction program and it's profound impact on the demand for steel and by extension IO. ( This giant infrastructure programs backed by more than $10T in stimulus that require steel products to hold it together)

This is coupled with a concurrent significant drive towards the decarbonisation of the global economy which actually requires significantly more steel than people realise ( those wind mills won't hold them selves up, those electric cards aren't made out of cardboard)

Additionally my thematic is contextualised by the lowest interest rates in recent history.

And situated during a growing Cold War between China and The US that will involve the building of lost of new shinny war toys - also requiring lost of steel.

This thematic is characterised by the higher for longer and an overall resetting of the base case for iron ore given its centrality in our world and the current situation we find ourselves in.

In short, history is something that happened in the past and we have entered a new Belle epoch of Iron Ore. The new base case for IO 62% fines is now above $100dmt against a historic $65. This isn't a cycle, it's a resting of values.

As a result of this it is my highly profitable contention and goal to find suitable targets to make me very rich.

MGX is one such target that I own As does the rest of the family office.

Of course I own GRR. I won't lie, but what a yawn that company is.
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Bring on those Qrterlies! BOOM