MGX 1.54% 33.0¢ mount gibson iron limited

Mining at the west end of main it finished 2 weeks ago. Now...

  1. 1,629 Posts.
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    Mining at the west end of main it finished 2 weeks ago. Now mining is being redirected to the eastern end for which the haul ramp needs some major work which will incur a reduction in ore extraction, especially during the current quarter in which will cause a major reduction in shipping.
    We have exhausted the stock pile as a back up.

    Also there is sure up work of the northern wall required before the area can be mined.

    Following that we have typhoon season.

    This is probably a good time for those with no patience to finally get out as they have said they would.

    Peter mentioned the time frame of acquisitions to be 1 to 2 years in his presentation at Noosa yesterday.

    For those who are patient Peter said guidance will improve in fy26 and fy27.

    I am long on MGX.
 
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