vision for mgx

"can somebody please tell me why MGX are worth almost 2bn?? and at around 1.50 they are a good buy?? i just cant seem to understand why mount gibson iron continue to be touted by many as a great iron ore play

they are producing at 10mtpa, yes thats good, but their resources are declining fast, with less than 10 years left, and i think they have about 100mt remaining on their three major assets....they have not paid a damn dividend yet..where is the value????

i think mgx is way WAY over valued, and for once i share the same opinion as huntleys. I would rather put my money into MMX, who are valued at 1bn less, with a major chinese company as a JV partner and with stage 2 approved, will soon produce around 15mtpa, they will pay dividends.

if someone can point out some very good reasons why mgx is superior to its other WA peers i may change my mind."

I have done some research on MGX tonight and I"m having the same questions as above (one of the great post I read). I knew someone would have posted this! I understand that MGX is a great company, however, is there any future plan for the company when it appoaches the end of the mine life? how is this company going to create a sustainable future? BHPB's famous for it's "long life, low cost, tier 1 assets" for iron ore. What about MGX?

This is purely a fundamental analysis post. Would be great if you guys can answer these questions in facts and numbers (certainly not in charts or just by gut feels =D )