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
42.0¢ |
Change
0.010(2.44%) |
Mkt cap ! $510.2M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.0¢ | 41.3¢ | $309.6K | 744.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 140503 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 299937 | 11 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
41.5¢ |
Change
0.010 ( 1.22 %) |
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| Open | High | Low | Volume | ||
| 41.5¢ | 42.0¢ | 41.0¢ | 170074 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| MGX (ASX) Chart |