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2.04%

24.0¢ magnetite mines limited.

If they did decide to do this with MGT, what would that mean for...

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EireD15

13 Posts.

4

29/07/21

08:22

Post #: 54854585
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Originally posted by dunnomuch: ↑

pretty excited when I woke up and read the RIO profit report… They’re my 3rd biggest holding and basically fund my life.

Speculating on takeover potential is usually a bit of a waste of time, however RIO NEEDS more mineable reserves and there aren’t that many around that could be as easy to take out as MGT. RIO is a multi-decade mine forecasting machine and they don’t have enough stuff in the ground to keep the Iron Ore machine to keep going as long as BHP etc. Old mate Jakob made that point last night, they are just are not as good as they once were in terms of longevity for Iron.

It would take RIO about 15 seconds to raise $500m and take a 70% interest in MGT’s resources and start mining pretty quickly. Acquisitions happen all the time in mining and RIO has pretty deep pockets as well as stating that they are running short… who knows… certainly a fun way to think about MGT’s future.

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If they did decide to do this with MGT, what would that mean for us who are invested? Would they be buying out everyone's shares? Sorry, first time investor and planning on holding MGT for the long term. Not really sure what this would mean for us? Any info would be helpful.

MGT Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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Last 24.0¢		Change -0.005(2.04%)		Mkt cap ! $24.52M

Open	High	Low	Value	Volume
25.0¢	25.0¢	24.0¢	$25.83K	105.5K

Buyers (Bids)

No.	Vol.	Price($)
3	40002	24.0¢

Sellers (Offers)

Price($)	Vol.	No.
25.5¢	2903	1

View Market Depth

No.	Vol.	Price($)
3	40002	0.240
4	42055	0.235
3	38500	0.230
2	63636	0.220
1	2000	0.210

Price($)	Vol.	No.
0.255	2903	1
0.270	4162	1
0.275	4318	1
0.280	207562	3
0.290	104281	2

Last trade - 16.10pm 14/08/2024 (20 minute delay)

MGT (ASX) Chart