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
45.0¢ |
Change
-0.005(1.10%) |
Mkt cap ! $546.6M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 45.5¢ | 44.5¢ | $341.5K | 759.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 195138 | 44.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 108443 | 2 |
View Market Depth
| Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
|
|||||
|
Last
44.8¢ |
Change
-0.005 ( 0.56 %) |
||||
| Open | High | Low | Volume | ||
| 45.0¢ | 45.3¢ | 44.8¢ | 435061 | ||
| Last updated 15.59pm 27/05/2024 ? | |||||
| MGX (ASX) Chart |