NeedleI am on big time from 17 cents and have no reason to sell...

Needle

I am on big time from 17 cents and have no reason to sell the farm - my biggest holding by some distance (almost 4 fold over JBM to be specific - and that one is big!).

IMO, the company has a major PR issue - I suspect this stems back to BJ's associations with certain peoples.

This is sad as I understand BJ is passionate about the success of MGX and is focussed on delivering.

Right now it is one step at a time - the BFS is next. I am holding as I am confident that they will deliver the expected results - iron ore is not like the majority of the metas where there is very much a hit and miss (JBM being the exception - LOL, lucky here).

Once the contracts are signed I suspect the instos and funds will look at it. The convoluted structure of the company however may ward them off - I assume the stock will be tightly held.

My postage stamp estimates suggest the stock is worth over $2 once the issues surrounding the slurry pipe line are resolved - my assumption is that it is a question of who is going to pay for it, who is going to build it and who is going to supply the materials for it. Reducing distribution costs by some $800 million which I think is the figure announced is massive. There is only 350 million shares!!

IMO, consumption in the world will kick on for another 5 years minimum, driven by the western countries - source - Harry S Dent (check web site - I subscribe).

Buying Aussie resources on pullbacks is the smart strategy right now.

Invest at your own risk folks.

Phil