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Another stinker of a quarterly report out. MGX down to $250 million cash. They are so far off the original re-start feasibility that Mr. Kerr should publish an update and then resign. Shine was a complete abortion, and the iron prices may have collapsed - but they are still much higher than anyone forecast them to be.

I have my suspicions that the re-start feasibility was 'engineered' with regards to capital expenditure. These things like airstrip, crushers, etc, pit rehab - they happen, they are common - but I don't think they were in the feasibility costs.

Given this risk of IO falling, the perennial underperformance of KI with regards to costs and grade, and Chinese control of MGX, I don't think they should be much more than about 40 cents.

Below is what they said they would do 3.5 years ago
[ATTACH=full]131734[/ATTACH]

<blockquote data-quote="The Triangle" data-source="post: 1143321" data-attributes="member: 66908">Another stinker of a quarterly report out.&nbsp;&nbsp; MGX down to $250 million cash.&nbsp; &nbsp; They are so far off the original re-start feasibility that Mr. Kerr should publish an update and then resign.&nbsp;&nbsp; Shine was a complete abortion, and the iron prices may have collapsed - but they are still much higher than anyone forecast them to be.I have my suspicions that the re-start feasibility was &#039;engineered&#039; with regards to capital expenditure.&nbsp; These things like airstrip, crushers, etc, pit rehab - they happen, they are common - but I don&#039;t think they were in the feasibility costs.Given this risk of IO falling, the perennial underperformance of KI with regards to costs and grade, and Chinese control of MGX, I don&#039;t think they should be much more than about 40 cents.Below is what they said they would do 3.5&nbsp; years ago[ATTACH=full]131734[/ATTACH]</blockquote>

[QUOTE="The Triangle, post: 1143321, member: 66908"] Another stinker of a quarterly report out. MGX down to $250 million cash. They are so far off the original re-start feasibility that Mr. Kerr should publish an update and then resign. Shine was a complete abortion, and the iron prices may have collapsed - but they are still much higher than anyone forecast them to be. I have my suspicions that the re-start feasibility was 'engineered' with regards to capital expenditure. These things like airstrip, crushers, etc, pit rehab - they happen, they are common - but I don't think they were in the feasibility costs. Given this risk of IO falling, the perennial underperformance of KI with regards to costs and grade, and Chinese control of MGX, I don't think they should be much more than about 40 cents. Below is what they said they would do 3.5 years ago [ATTACH type="full"]131734[/ATTACH] [/QUOTE]

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