Although iron ore miners are down by similar magnitude from their 12 months high, it is not because of lack of demand, as China continues to import IO at record breaking levels.
Australian ports are being upgraded so we can export even more IO.
Plentiful supply of IO has been touted in some media as a reason for the iron ore price being down from 12 month highs.
Apart from supply / demand factors affecting the iron ore price, each miner has its own nuances contributing to that fall in SP, and consequently those nuances will affect each ones timeline to recovery.
Peter Kerr has stated that an aquisition could happen in 2025.
As Samsonrises has stated, the bottom of the cycle provides an opportunity to stretch our reinvestment dollars.
Peter Kerr is working on making those re-investment dollars make the most benefit for MGX.
Although the lack of detail being announced with regard to future reinvestment can be frustrating to shareholders . . . Peter Kerr has informed shareholders as much as possible without jeopardizing MGX's bargaining power to get the best for MGX.
MGX Price at posting:
30.3¢ Sentiment: None Disclosure: Held
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