MGX 4.23% 90.5¢ mount gibson iron limited

Mount Gibson - resources released

  1. 2,218 Posts.
    High grade (Fe 63% plus) hematite resources released today. Combined 27 mt for the KSM and Mt Gibson deposits. Reserves to some next month, but likely enough ore for 10 years at 2 mtpa. Once settlement with KSM administrators is achieved and reserves and financial parameters are finalised, should be little risk with this stock, assuming iron ore outlook is Ok for 2003-04. MGX were quoting about cashflow of AUD8 per tonne cash flow on Mt Gibson deposit; economics of KSM deposits are apparently better. Using a more conservative AUD6, this still gives the company a very low P/E (estimate 2-3) once it is production in about 9-12 months.

    angus

    i hold MGX
 
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Last
90.5¢
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-0.040(4.23%)
Mkt cap ! $1.094B
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90.0¢ 91.5¢ 86.0¢ $2.380M 2.656M

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No. Vol. Price($)
3 24706 90.0¢
 

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90.5¢ 9999 1
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Last trade - 16.10pm 28/01/2020 (20 minute delay) ?
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Last
90.5¢
  Change
-0.040 ( 4.74 %)
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90.0¢ 91.3¢ 86.0¢ 785026
Last updated 15.59pm 28/01/2020 (live) ?
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