Most likely will sell that are shaded in yellow. Those countries also from Asia, UK and Middle East, own the shares knowing that Australia is a resource sector investment hub - obviously they have an interest in MGX.
The one that can have a real impact will be the 19% - retail. It doesn't mean all want to sell but are more likely to move their shares.
I don't see any evidence through any announcement of share movement/change from the main investors either - I stand to be corrected but this shareholder distribution has not really moved in years.
I can see most are complaining that 5% may not be enough I personally think is enough to see a change in share price movement - but don't expect too significantly. There will be an eventual squeeze in MGX in a given year and importantly as rates start to drop will help to kickstart a slowing economy and make share price move more broadly weighted towards the resource sector.
Looking to even buy in FMG is starting to look attractive virtually cut in half in share price in the last year.
I'm reading the comments on the board everyone needs to relax here a bit looking too much in the last announcement. PK is getting hammered for a boring announcement in a boring economy. Reminds me of a white flag being raised and bullets keep on flying won't make any difference. Same can be said here a great announcement stock movement may move quickly but will just drop as fast back to its lows. The market timing is not ready for good announcements.
On this note, you know when is time to buy into the resource sector it's like someone just flicks the button on one morning they all have a major kick start in the share price. I remember the days like MIM, WMC, BHP and others all resource stocks in green let me say dark green - lol. AFR will make an announcement "we are in the early stages of a Resource Boom"
We have not had that happen yet when it does you will know. To remember the first part of the new share market cycle will be in the real economic growth is in the resource sector.
Small to medium stocks with higher betas they are likely to double and triple quickly.
As long as MGX when the button does kick in or gets switched on has the cash, probably by then may do a share scrip mix with FEX, ramp up the juniors and a possible acquisition, combined with extended LOM - who knows where the stock price will be - one thing for sure won't be 30 cents.
Just be patient, the resource sector will see a ramp up in share prices - you will know about it at a party you will hear the dart board experts in - I will guarantee you those mums and dads will be boasting about a stock they purchased; quadrupling in 6 months and made a killing etc etc and feeling good about themselves.
For observation, the all ords for example has improved mainly in the defensive stocks paying dividends but wait till will see signs of economic growth - the mix and weighting will change very fast as investors look for growth stocks.
Has not happen yet - just a reminder!
Stay focused won't be long the markets are seeing real economies falling - the button will be flicked on soon.
MGX Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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