MGX 0.00% 43.0¢ mount gibson iron limited

has mgx beem out-negotiated?, page-6

  1. 887 Posts.
    re: has mgx been out-negotiated? i agree. somewhat disappointed at this announcement. although i dont fully understand it. the chinese firm has agreed to buy 2.5 mtpa over the life of the mine. which is half the production. but with 120 million$ they have bought half the mine, therefore half its contents. am i wrong? that seems stupid.

    The 120 million also goes into the mine rather than to mgx, so they really paid 60 million ???????
 
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