Today, Shougang and China Shipping (Group) Company, the fifth-largest in the world, entered an agreement to establish a new shipping company. The new company, which shougang has 49% interest, will start operation in March this year to transport bulk IO from overseas.
Here we go, Shougang has been smoothly putting things together for its growth plan. MGX’ s marriage with Shougang has secured MGX for its own goal of future growth and will only strengthen its balance sheet .After all, MGX is not a subsidiary company of Shougang since Shougang does not have more than 50% of the shareholding.
Based on the facts I know, I am very confident about MGX’s future. Unlike some IO hopefuls who only have gone through the phases of drillings or feasibility studies, MGX has a proven business. At current price tag, I don/t think you can find a company that has a production capacity reaching 10m m/t mark.
Since I am not willing to miss the boat when it takes off, I intend not to day-trade this stock. If MD thinks he is so smart that he can sell at high and buy at low, then good luck to you.
Again this is my view and you should have your own.
Today, Shougang and China Shipping (Group) Company, the...
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Last
36.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $444.6M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.0¢ | 36.5¢ | $244.0K | 664.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 118094 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 50000 | 2 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |