MGT

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18.5¢ magnetite mines limited.

5.7 billion tonnes JORC'd.up to 30-something probably. we need...

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MrStrengths

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21/08/21

16:12

Post #: 55467859
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Originally posted by Babysaurus: ↑

My thoughts on chinese 'crack down' on iron ore. They won't be able to continue reducing steel production for a long time. China is grossly neck deep in debt and the only way for their economy to survive is through continuing construction and production and they need iron ore for that.

What they are doing now is a 'game' to reduce iron ore to a manageable or profitable price by saying it's to reduce emissions. Loads of rubbish, they need iron ore but at a lower price. The price is over inflated which MGT addressed in PFS by reducing the price to $110 for 62% (we have 68% grade higher in price).

Again, Iron ore price might be going down but not for long, it's economically unsustainable for China to lower their demand for a protracted period of time.
The solution for China's economic loss from Covid outbreaks, floods, debts is none other than IRON ORE.

I believe MGT is set up well for this with a huge reserve and low strip iron. In the end there will always be demand for Iron Ore even if wars break. Iron will actually be like 'oil' in the future where conflicts would arise to control this resource. I would even bet that China will actually invest a huge portion of that $500 millions costs with some sort of agreement attached to secure supply of iron ore.

Unless WW3 breaks, after a couple hundreds of years Australia will be an Agricultural power house to slowly replace mining. Note that China's food production and water allocation is badly mismanaged.
Good possibility MGT still be around by the way (giving dividends) as their mining life estimate of 100 years is only from 400mil tonnes of ore, they have 3.9bil tonnes.

So the point is, MGT will be a profitable company paying dividend to your great great grandchildren. Iron ore will always be on demand even if wars break. China will always want Australian iron ore.

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5.7 billion tonnes JORC'd.

up to 30-something probably.

we need to get through two things:
the next year,
and funding.

MGT Price at posting: 3.1¢ Sentiment: Buy Disclosure: Held
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Last 18.5¢		Change 0.005(2.78%)		Mkt cap ! $21.33M

Open	High	Low	Value	Volume
18.0¢	18.5¢	17.5¢	$14.97K	83.40K

Buyers (Bids)

No.	Vol.	Price($)
1	90014	17.5¢

Sellers (Offers)

Price($)	Vol.	No.
18.5¢	30666	2

View Market Depth

No.	Vol.	Price($)
1	90014	0.175
8	139764	0.170
2	11200	0.165
1	50000	0.160
1	10000	0.155

Price($)	Vol.	No.
0.185	30666	2
0.195	52668	4
0.200	132206	3
0.205	49999	1
0.215	1946	1

Last trade - 15.42pm 04/10/2024 (20 minute delay)

MGT (ASX) Chart

5.7 billion tonnes JORC'd.up to 30-something probably. we need...

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5.7 billion tonnes JORC'd.up to 30-something probably. we need...

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Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Buxton projects new graphite province discovery at WA Narryer play

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Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

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