hit the road jack

The CEO and Management of MGX seem to be sitting on their hands while
the share price has dropped from $1.20 on the 20th March to $1.015
today; that's a massive drop of 18.5 cents (-15.4%)

There is no fundamental reason why this drop should have happened.
The FOB price of iron ore has stabilised and China has had record steel
output in April.

InvestSMART (www.investsmart.com.au) surveyed 8 brokers on the
May 1st and the average SP estimate was $1.429.

Perhaps the mamagement should hit the road with an upgraded investor
presentation (last Feb 2012) to emphasise MGX's fundamentals and
prospects. A refreshed broker valuation would do no harm either.

Over the past year we have seen a succession of internal restructures
and it is now time to present the company and its management & board
as a unified and formidable force in iron ore mining.

With kind regards
Moorookamick