MGX mount gibson iron limited

The ore reserve from FY23 to FY24 only decreased by the amount...

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    The ore reserve from FY23 to FY24 only decreased by the amount depleted/mined during the year - the mineral resources were always subject to economic extraction in the Main Pit area and with the drop in the IO65 price over recent years(that has continued in FY25) these resources are no longer any chance of being economic due to high waste-to-ore ratios and ever increasing mining costs and they can't wait around for them to become economic as they plan to close Koolan Island to mining by the end of CY26.
    You might find the mineral resource at 30Jun25 will align with the ore reserve.
    Last edited by miningnut: Yesterday, 12:24
 
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