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5.56%

19.0¢ magnetite mines limited.

MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-485

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934 Posts.

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17/08/20

22:43

Post #: 46606376
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Originally posted by vagabond84: ↑

Missed the biggest one - it's magnetite. It's low grade ore. The Razorback's ore grade is between 16% - 28%. Contrast this with the iron ore majors e.g. FMG, Hancock, Vale, BHP, whose iron ore is in the 50%-60%+ range. MGT will need to mine 2 or more tonnes of ore, to get one tonne of high grade ore, making them a very high cost producer of iron ore. Almost certainly uneconomical at long term averages, ie. if you don't use the current iron ore price which is boosted by supply disruptions from Brazil.

This stock will probably go higher on hype, but the fundamentals won't justify it. It'll be a great trading stock though, because they can claim large in-situ values associated with 4B tonnes of iron ore and make everyone excited. Heck, I might even take a few to speculate on the price movements.

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Hematite and magnetite are two different beasts you cannot just straight compare.

Hematite is a direct shipping ore that is in the 58-62% Fe range.

MGT have produced a sample at 68.5% Fe and the price between the different grades is huge.

Magnetite also needs less energy to smelt and is considered "greener" and favoured by smelters etc.

Maybe even Greta approves haha

MGT Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
14 Upvote

2 Great analysis

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Last 19.0¢		Change 0.010(5.56%)		Mkt cap ! $19.44M

Open	High	Low	Value	Volume
19.0¢	19.0¢	19.0¢	$476	2.504K

Buyers (Bids)

No.	Vol.	Price($)
2	3388	18.5¢

Sellers (Offers)

Price($)	Vol.	No.
19.0¢	13879	2

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No.	Vol.	Price($)
2	3388	0.185
5	95689	0.180
3	56500	0.170
2	4400	0.165
1	20000	0.160

Price($)	Vol.	No.
0.190	13879	2
0.195	74058	2
0.200	19530	2
0.220	3773	1
0.250	3120	1

Last trade - 14.38pm 11/09/2024 (20 minute delay)

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