MGX 0.56% 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
 
watchlist Created with Sketch. Add MGX (ASX) to my watchlist
(20min delay)
Last
90.5¢
Change
0.005(0.56%)
Mkt cap ! $1.073B
Open High Low Value Volume
89.0¢ 90.5¢ 88.5¢ $3.766M 4.198M

Buyers (Bids)

No. Vol. Price($)
1 24120 89.0¢
 

Sellers (Offers)

Price($) Vol. No.
90.5¢ 29265 2
View Market Depth
Last trade - 16.10pm 16/04/2021 (20 minute delay) ?
(live)
Last
89.5¢
  Change
0.005 ( 0.56 %)
Open High Low Volume
90.5¢ 90.8¢ 88.5¢ 591571
Last updated 15.59pm 16/04/2021 (live) ?
MGX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.