Good point re MGX, I'd be surprised if they haven't run the ruler over us as we seem to meet alot of their criteria. Hopefully they leave us alone as I'd hate us to be taken out cheaply.
This is taken from the latest Pattersons resource review:
"MGX continues to seek M&A opportunities (preferably scrip-based) in the core steel production industry which are at pre-feasibility or feasibility stage and can lift its group production to +15Mtpa. More importantly, the Company is focused on finding operations which provide longer life (+15 years) and can move it down the industry cash cost curve. We maintain strong confidence in a well-credentialed management team with a proven track record in making value accretive acquisitions. Our 12 month price target is $6.14/sh and we retain our BUY."
UMC Price at posting:
$1.53 Sentiment: Buy Disclosure: Held
