MGX share price, page-33

Article last week on business spectator about KI... Quick answer to your question - looks like not for a year or two.
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"Mr Beyer admitted capital costs relating to its Koolan Island development would make profit “challenging” in the short term, but the firm remains confident about the future as it expects its operational costs to decline and Chinese demand to remain “consistent”.

“At these prices the cash would be challenging because of the amount of capital that we need to put [into Koolan] … so overall the business at $US83 a tonne [iron ore] and US91c [exchange rate], that’ll be challenging our cash balance, but that is because we are in an abnormal phase.”

As of the end of the June quarter Mount Gibson held cash reserves of $520 million with debt of less than $10m, which explains why it is “not worried” about cash flow.

Meanwhile, Koolan will be able to comfortably turn a profit at current prices once its two-year recapitalisation is complete, with future cash operating costs “comparable with [market leaders] Rio and BHP”.