MGX 3.57% 94.5¢ mount gibson iron limited

impact of aud on mount gibson

  1. Jim
    891 Posts.
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    Ran some numbers on the impact of the exchange rate on mount gibson's profitability and spoke with the company to confirm the findings.

    There is a forthcoming announcement dealing with these issues due shortly.

    The upshot is the company's previously reported business model is robust at these levels and profitability is still on target for circa $12m pa. The model is a lot firmer now since the company is now so close to commissioning production

    mt gibson is now in a postion to lock this in via hedging contracts.

    as currency appears to be the only reasonable risk left to the project it will be a great relief to the market to have this issue put to rest

    look foward to the announcement

    good luck
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