MGX 2.38% 43.0¢ mount gibson iron limited

They would be stupid not to look into buying a cheap Gold...

  1. 12,389 Posts.
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    They would be stupid not to look into buying a cheap Gold producer or soon to be producer in Aus ,,it's one of the only areas currently that ASX miners are very profitable ...with AISC averages round $900-$1200oz AUD(and heading lower) and the current spot Gold price $1491oz (has been above 1600+ recently looks bullish for 2016 aka lower AUD) ...

    with their war chest esp after a Insurance payout ..they should be able to buy 10yr+ in Gold reserves and 100koz+ p.a operation = paying out least 40mill EBIT p.a ,...and still have a sizable cash balance for I.O etc
 
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