The current 65% iron ore price is US$160/tonne, so its best to work on the price today rather than on previous prices.
We might see a shareprice of $1.20 but no way will MGX go to $3, the reserves are to small to justify a higher shareprice.
Let hope that MGX can start shipping at 3 ships/month.
MGX Price at posting:
59.3¢ Sentiment: Hold Disclosure: Held
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