guys, the mgx board would not allow the company to be taken over...

guys, the mgx board would not allow the company to be taken over for 60c as that would "undervalue" mgx, just like $2.70 a few months ago "undervalued" mgx.

also, the chinese would not be able to get FIRB approval to take over mount gibson. no, the government would rather mgx went bust than sell it to the chinese.


they were supposed to enter definitive contracts for the capital raising by mid novemeber. the failure to do so indicates to me the chinese want a lower price.

so they will re-negotiate to 40c, and then in a few weeks mgx will be 10c and then they will re-negotiate it down again.


every company that needs to raise equity now is doing a lighting fast accelerated placement to prevent the share price being eaten away. it seems common sense has once again escaped mgx management who feel it needs 3 months to do a placement.

they say the market is going to 2800 and below, so where will mgx be by then? will it be a penny dreadful sub 10c stock? it seems mgx is being made the whipping boy for the iron ore market. mmx, ago, fmg are down no-where near 20% today but mgx keeps getting smashed day after day.