OK, so here's a tip in case you haven't been buying MGX in this 'sub .85c' window......
China's focus is back on the Environment so they will more than likely recommence their focus to purchase high grade IO....... The graph below from 'Scutty' demonstrates clearly how China's buying patterns have changed just recently with regard to higher grade IO and the increasing 'spread' between the grades.
It will again refocus the market on higher grade IO exporters......
Potentially a 'Good News/Bad News' situation for MGX (although good news overall...) with KI ramping up production of its 65%fe once the stripping phase completes over the next 6 months (good news) but potentially raises longer term doubts over their Midwest operations.....
"Here endth the lesson"
GLTAH
China Goes Green.....??? Impact on IO price & Grade spread......???
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Last
30.0¢ |
Change
-0.005(1.64%) |
Mkt cap ! $364.5M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 30.5¢ | 30.0¢ | $142.0K | 473.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 144709 | 30.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 27772 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| MGX (ASX) Chart |