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RESPONSE TO TRADE4PROFIT FROM 11.40PM POST ON FRIDAY NIGHT


Trade4profit, todays announcement was extradinary.

They announced 500mt! All the long term posters/holders here were expecting 250mt.

I dont now how well you know the story, but the project that came out with 500mt today is right next door to MGX's Extention Hill which was sold to the Chinese 2 yrs ago for $200mn.

Our estimate today is TWICE what MGX sold to Sinom (Chinese company) and iron ore prices have gone up TWICE since then.


So theoretically, on that metric, we can expect to get FOUR times what MGX got.

FOUR TIMES = 4*$200m = $800mn USD


Current Mkt Cap = $35mn @ 35cents (as 100mn shares)

Has cheap spec options.


Potential exists for extra-ordinary returns.

And as you alluded to, very tight register. Chinese Steel mill has bought 14% or 14mn shares at 30cents over the past month. Mngmt and directors own probably another 50%.



Enjoy your weekend