@tokyo
What do you mean what is going on with them . They got very very close to an acquisition late last year but were outbid in the last minute . They are looking at opportunities both individually and with their major shareholder. I much prefer waiting in cash to find a great deal. Cash hurts nobody and to be honest has allowed me to take bigger positions than I would other wise allowing me to make biggger returns on smaller moves
I really think the quality of MGX is chalk and cheese with GRR. Having been invested in both and spoken to both over the years a number of times, one of the key reasons I sold out of GRR was low quality of management. Their investment property venture only highlights this further and the fact it is been run like a private company - the fact they have filled the management with Chinese nationals ( chairperson , cfo etc ) who are extreme lightweights ( imo ) makes the case even more.
Mount Gibson as Mongrel has pointed in the past is highly correlated with the IO price , which had a big dip in the last week , recovering a bit today, but I think as they continue to build cash and revenue , that correlation continues at higher and higher prices . I have 1.3m shares so far but want to leave a bit of ammo in case it falls further
