Shorts have just played with this as their plaything as IO price fell as register is not same as $FMG.
Now the shorts are unwinding, the IO price stabilising and I doubt the value of the company is truly less than many exlporer juniors (ex $265m Cash) which is proves its insane to be trading at 38c. This stock is worth $1.00ps with IO at $100. With IO at $60 (57%Fe) MGX still worth 60c. IO rising again as China and Asia usually get producing again as winter finishes and CNY is over. This could double in a week or day as shorts forced to cover and no shares to cover their crazy capping behaviour. I paid 54cps and sleep well as I know it will be well above that by Olympics. Friday was interesting to watch. IO price really jumped the most in weeks Friday night.
General Discussion and Valuations, page-47
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Last
35.0¢ |
Change
0.015(4.48%) |
Mkt cap ! $426.4M | |||
| Open | High | Low | Value | Volume |
| 33.5¢ | 35.5¢ | 33.5¢ | $446.5K | 1.292M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 150000 | 34.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 6595 | 1 |
View Market Depth
| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| MGX (ASX) Chart |