MGT magnetite mines limited.

I'm not sure about "ill informed" opinion / comment... I'm no...

  1. 480 Posts.
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    I'm not sure about "ill informed" opinion / comment... I'm no trader or charter, but HIO is massively over-bought right now, and has been for some time. Clearly a bit of a frenzy going on right now, and people are jumping on the company that's flying.

    It was a valid comment - but that doesn't necessarily mean it will pullback, of course. These kinds of aggressive run ups usually do. The problem might be the ripple effect of those who entered higher going underwater if it does - selling generally causes more selling, and the rapid gains can be wiped out pretty quickly, but obviously not always.

    Good luck to any and all invested, I considered it when it dropped back to 7.7 cents in October and didn't, and kicking myself now. As said, it may not pull back and could simply keep pushing onwards, but at over $600 million pre-BFS, it's hard to say it isn't well over-valued as everything stands.

    MGT had it's massive run previously, and most people thought 2 cents was gone for good.

    Weird forum tendency - on all subjects - to try and point score against the poster, rather than discuss the topic. I get it, that's the internet. But sometimes it's like opposition footy supporters gnashing their teeth at each other after a close preliminary final. Bit ridiculous, really.

    I will make a slight personal exception here just to note the hilarity of our ex-resident know-it-all @Daz08 moving over from here to troll HIO about how they were doomed at 13.5 cents. They sure can pick 'em.

    Who knows what will happen, the market is weird. But HIO is probably a bit ahead off itself, and some of the people that bought in over 60 cents may have their nerves tested. Or they may not...
 
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(20min delay)
Last
8.8¢
Change
0.002(2.33%)
Mkt cap ! $10.78M
Open High Low Value Volume
8.6¢ 8.8¢ 8.5¢ $3.717K 43.30K

Buyers (Bids)

No. Vol. Price($)
1 12784 8.5¢
 

Sellers (Offers)

Price($) Vol. No.
8.8¢ 15167 2
View Market Depth
Last trade - 14.34pm 31/07/2025 (20 minute delay) ?
MGT (ASX) Chart
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