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
Mount Gibson - resources released
Add MGX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
41.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $504.1M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 221838 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 82 | 2 |
View Market Depth
| Last trade - 09.59am 14/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |
Day chart unavailable