MGX 0.74% 67.5¢ mount gibson iron limited


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    Upon receipt of the funding and issue of new todays share price, MGX will have a cap of $375 million and cash of $160 million.

    See at bottom, news via the ASX today...Cleveland Cliffs mopping up Portman Mining, to value that 8 mtpa producer at $3.8 billion. To complete the takeover...they paid withion the last few weeks, $560m for the remaining balance of 14.8%

    Portman blend their lower grade ores at their Koolanobbing, Yilgarn, flagship operations....Portman than railfreight it some 400km plus, to Esperance Port.

    Strongly suggest MGX EBIT per ton ..significantly better than Portman....(more than 10%)

    MGX cap $375m verse PMM $3.8 billion.

    MGX have a lifetime sale contract for ALL their product...with companies closely aligned with this group:

    Steel giant Shougang to move out of Beijing
    Updated: 2005-02-08 16:30

    Beijing Shougang Group, China's fourth largest steel maker, will move all its pollutive plants to neighboring province by 2010, Tuesday's Beijing Times reported.

    Founded in 1919, Shougang Group (also Capital Iron and Steel Group) spearheaded numerous technological breakthroughs in China's iron and steel industry and remained the country's industrial pride for decades.


    4th November 2008, 10:00 WST

    US steel group Cleveland Cliffs will move to full acquisition of iron ore company Portman after closing its offer yesterday with a 99.27 per cent stake in the company.

    Cliffs, which began mopping-up the 14.81 per cent of the company it did not already own in September, offered $21.50 for every Portman share, well above the $3.85 per share it offered in 2005.

    The bid valued Portman at $3.8 billion overall, and the stake it did not own at $560 million.


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