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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Mkt cap ! $365.5M |
Open | High | Low | Value | Volume |
30.0¢ | 31.0¢ | 30.0¢ | $511.5K | 1.696M |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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30.5¢ | 100000 | 1 |
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No. | Vol. | Price($) |
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3 | 94990 | 0.300 |
2 | 101391 | 0.295 |
8 | 72544 | 0.290 |
4 | 199263 | 0.285 |
6 | 192752 | 0.280 |
Price($) | Vol. | No. |
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0.305 | 100000 | 1 |
0.310 | 148385 | 4 |
0.315 | 97206 | 5 |
0.320 | 307050 | 4 |
0.325 | 155300 | 5 |
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