Australia's largest stock trading and investment forum Australia's #1 stock forum

MGX

Click for more information

1.61%

30.5¢ mount gibson iron limited

Ann: Quarterly Activities Report, page-24

First 24 Last

Share
Profile

Follow
nabinpaudel

2,717 Posts.

67

28/07/21

19:45

Post #: 54848643
Share

Originally posted by Idle Wanderer: ↑

Speaking of FMG, I've been trying to work out what FMG sell similar IO fines for. As far as I can work out, they sell their Fortescue Blend, which is 58.3%, with a 33% discount, presumably off the Platts 62% benchmark. Now the Quarterly says the 62% benchmark has averaged $200 per tonne for the quarter. This would mean FMG is selling that product for $134 per tonne (less shipping costs).
MGX shipped 56% ore in the last quarter but only realised $66 per tonne, which is truly a dreadful result. You would not think that 2.3% difference in grade would mean a 50% discount from FMGs price.
One suggestion is that there are certain impurities in Koolan iron ore. To me that seems unlikely. For 70 years or so Yampi Sound i.e. Cockatoo and Koolan Islands, have been a dependable source of iron ore. First to Australian customers, then to the Japanese and now to China. You think someone would have noticed this before and highlighted the problem.
Hoping for informed comment because something seems wrong to me.

Expand

may be Chinese company selling to Chinese companies I low price screwing us shareholders for Chinese govt benefit ??

MGX Price at posting: 91.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Trump is President Again: What Does This Mean for Crypto?

CPV

ClearVue inks deal with UK heated glass player to combine solar tech with its offering

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

AR3

Overland drilling proves promising for Australian Rare Earths' uranium hopes

There are more pages in this discussion • 46 more messages in this thread...

First 24 Last

Add MGX (ASX) to my watchlist

(20min delay)
Last 30.5¢		Change -0.005(1.61%)		Mkt cap ! $370.6M

Open	High	Low	Value	Volume
30.5¢	31.0¢	30.5¢	$222.5K	726.4K

Buyers (Bids)

No.	Vol.	Price($)
5	97293	30.5¢

Sellers (Offers)

Price($)	Vol.	No.
31.0¢	12253	2

View Market Depth

No.	Vol.	Price($)
5	97293	0.305
8	353993	0.300
6	283867	0.295
4	118000	0.290
4	109026	0.285

Price($)	Vol.	No.
0.310	12253	2
0.315	205961	5
0.320	145511	7
0.325	116278	2
0.330	139117	5

Last trade - 16.10pm 13/11/2024 (20 minute delay)

MGX (ASX) Chart