MGX is basically a supplier to a vertically integrated steel making process.
The real gold in this arrangment will come as a result of the chinese steel makers EXPORTING the finished product to western countries, so don't get hung up on the chinese economy too much. Meeting export regulations (Chinese) is the next stasge of MGX's journey.
It is the MAGNETITE that is the key resource, all they have to do is get it out of the ground and to the chinese pellet factories.
Current production and earnings is the tip of the iceberg. Magnetite is the resource required to build the best steel in the world. MGX has heaps of it, close to China, so a competitive advantage over other suppliers.
Phil
MGX is basically a supplier to a vertically integrated steel...
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