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
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Last
31.0¢ |
Change
-0.005(1.59%) |
Mkt cap ! $377.6M |
Open | High | Low | Value | Volume |
31.5¢ | 32.0¢ | 31.0¢ | $694.1K | 2.217M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 204324 | 30.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
31.5¢ | 7421 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 137851 | 0.310 |
6 | 182300 | 0.305 |
8 | 541438 | 0.300 |
6 | 261650 | 0.295 |
3 | 22050 | 0.290 |
Price($) | Vol. | No. |
---|---|---|
0.290 | 1 | 1 |
0.300 | 714 | 2 |
0.305 | 1423 | 2 |
0.310 | 5000 | 1 |
0.320 | 191036 | 7 |
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