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
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Last
45.5¢ |
Change
-0.005(1.09%) |
Mkt cap ! $558.8M | |||
| Open | High | Low | Value | Volume |
| 46.0¢ | 46.0¢ | 45.3¢ | $27.04K | 59.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 121136 | 45.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 213779 | 17 |
View Market Depth
| Last trade - 10.20am 21/05/2024 (20 minute delay) ? |
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Last
45.5¢ |
Change
-0.005 ( 0.87 %) |
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| Open | High | Low | Volume | ||
| 45.5¢ | 45.5¢ | 45.0¢ | 13956 | ||
| Last updated 10.34am 21/05/2024 ? | |||||
| MGX (ASX) Chart |