MGT magnetite mines limited.

3.53%

8.8¢

MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-2

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10/08/20

18:47

Post #: 46434173
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Originally posted by Diabloracer: ↑

MGT TAKEOVER?? TARGET 4B Tonnes iron ore

Ive been following MGT for some months now and have today regretted not buying at .002c when I put it on my watch list.

So today I kind of backed the truck in and loaded up.

Seriously undervalued and a contender for a takeover.

Having currently nearly 4B tonnes of ore with a low strip ratio this would have to be on the radar of numerous companies for a takeover IMO.

It certainly ticks all the boxes.

The Chinese, the Japanese and or the Koreans would have be be doing the numbers on this, which IMO would be fairly easy and primary school mathematics surely.

With current ore prices where they are Im sure the offer will be on the table very soon.

Even at 10/15c the stock is cheap IMO
3.9 billion tonnes (JORC 2012) of iron ore
Over 110 kilometres of unexplored strike
1,722 km² of surrounding tenements
100% owned by Magnetite Mines Limited
The Razorback High Grade Iron Ore Concentrate Project is an iron ore project in the western portion of the Braemar and is wholly owned and operated by Magnetite Mines Limited.
The Project is 250 km northeast of Adelaide, South Australia and is located central to existing infrastructure.
The Project consists of three main ore bodies, Razorback is the primary deposit followed by Iron Peak and Ironback Hill. Together these deposits constitute 3.9 Billion Tonnes of JORC 2012 Inferred to Indicated resources (see ASX Announcements on 12/11/18 & 20/11/18).
Since 2009, Magnetite Mines has invested AUD $35 million in the project by carrying out over 52,000 metres of drilling, completing a positive pre-feasibility study, and subsequent optimisation of that study.
High tonnage iron ore mineralisation
Able to produce 68.8% Fe concentrates with low deleterious elements
Soft ore relative to traditional BIF magnetite mineralisation
Negligible overburden resulting in low strip ratio
Long-term Supply Security
Established and supportive mining jurisdiction
Located in a region rich in Infrastructure

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Ripper of a day - probably caught a lot of people's attention now. Iron ore is about 30% up in value since this time last year but has been shadowed by gold. People will be looking to park their money elsewhere soon and this has been a little hidden gem that is grossly undervalued and presents a huge opportunity to be the next 10+ bagger. Interesting times ahead and this has a hell of a lot of positives to get it cranking.

MGT Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
7 Upvote

4 Great analysis

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(20min delay)
Last 8.8¢		Change 0.003(3.53%)		Mkt cap ! $10.67M

Open	High	Low	Value	Volume
8.8¢	9.0¢	8.8¢	$3.886K	43.52K

Buyers (Bids)

No.	Vol.	Price($)
1	36585	8.2¢

Sellers (Offers)

Price($)	Vol.	No.
9.0¢	33000	1

View Market Depth

No.	Vol.	Price($)
1	36585	0.082
3	226600	0.081
4	72340	0.080
2	19000	0.078
2	47000	0.077

Price($)	Vol.	No.
0.090	33000	1
0.092	100000	1
0.095	233498	3
0.098	1200	1
0.099	20000	1

Last trade - 16.10pm 23/07/2025 (20 minute delay)

MGT (ASX) Chart

MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-2

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MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-2

Top Stories

Trigg brings famed Finnish metals refiner – and its tech – onboard to bolster antimony processing

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Featured News

Buyers (Bids)

Sellers (Offers)

Featured News