I wouldn't be surprised if there is now more than just one offer of a JV/cash stake in the company etc for magnetite development.
In fact I'd be surprised if a number of chinese mills haven't approached MGX re magnetite allowing for the obvious rush by the chinese to develop competition to the cosy oligopoly BHP/RIO/CRVD etc
Wouldn't aslo be surprised if RIO are looking to tie up more projects around their existing lines so as to lock out FMG and their attempts to open up competition and access.
Even tho its actually BHP fighting FMG, BHP appear to be less interested in MGX at the moment.
Therefore I'd think that MGX are actually now in the position of being able to choose the best suitor rather than just shougang as an only offer.
This can only be good for MGX.. and long term maybe even RMI.
somethings cooking, page-15
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Last
42.0¢ |
Change
0.010(2.44%) |
Mkt cap ! $510.2M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 42.0¢ | 40.5¢ | $1.108M | 2.659M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4572 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 179187 | 6 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |