MGT magnetite mines limited.

1.16%

8.5¢

You have outed me. I'm Chinese and want the iron ore price to go...

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Daz08

934 Posts.

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22/12/21

01:29

Post #: 58449956
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Originally posted by Babysaurus: ↑

Just my speculation but Daz might even be connected to foreign entities like China trying to push MGT's price down (judging from his broken English). A bit like wumaos 50 cent army paid to attack online comments that are against the CCP with broken English.
Chinese entities connected to CCP will for sure be interested in investing in MGT and other iron ore companies, I just hope the ownership will be limited.

Not in any way looking down on people with broken English, I'm just looking down on Daz as his/her intention is evil towards MGT's shareholders.
English is my second language too and I could only say yes or no when I first arrived in Australia as a teenager so I know the hardship of immigrants with limited English.

On another note, yes the iron ore price is climbing up again.
As I mentioned before, whatever commodities China tried to "ban" they will always increase in price again later on.
They couldn't handle the expensive iron ore price so they did a dodgy by claiming they wanted to go green.
(They shot themselves in the foot with coal too which led to energy scarcity)
It worked and now they can get iron ore at a lot cheaper price and so demand once again jumped.. dodgy

Someone also mentioned real estate.
Real estate is imploding in China but China still can't survive without steel making.
Truth be told, A LOT of foreign investors are the ones getting burned by this real estate scam/ ponzi scheme.
For example Evergrande's debt restructuring will most likely be paid ONLY to local chinese investors, NOT to foreign creditors.
Meaning that most chinese "might be" able to recoup some/ most of their losses but not foreign investors. Very dodgy indeed.
This means the cycle of real estate will continue again in the near future with extra government limitations.
Foreign investors will also once again be sucked in by greed but much later on as if they suffer amnesia.

Even now without real estate, they need to make and export even more steel to prop up their economies. Steel production has been the backbone of China's economy revolution besides producing cheap items. Even with foreign companies closing down, steel will have to go on. They need to, as I really believe the CCP cooked the book and their economic growth now is actually negative.

However, China is not the only steel producer.

I believe the next country to replace China will beVietnamas a lot of foreign companies are moving to Vietnam.
Vietnam will be our champion
They are a very welcoming and friendly people which makes it a country you can root for.
Look at the graph below and see them growing year on year.

Bottom line is,iron ore will always be in demand and price will be sustained. In the future, China will gradually lose its bargaining power creating a more stabilised and sustained price growth.
MGT will be a powerhouse as a premium high iron content ore supplier

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You have outed me. I'm Chinese and want the iron ore price to go lower. If that's the case, I would want supply to increase? hence I would be saying mgt is going to build a mine and supply heaps of iron ore? To crash the price. I'm saying the market doesn't want mgts high cost iron ore, opposite

Last edited by Daz08: 22/12/21

MGT Price at posting: 2.8¢ Sentiment: Hold Disclosure: Not Held
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