After repairing the seawall, and moving on Eric the crocodile, Mount Gibson is all set – weather permitting – to make its first sales at the end of March.
Read More
Mount Gibson Iron ((MGX)) has revealed lower shipments and realised prices for Iron Hill fines were offset by reduced costs and better prices for the lump product in the September quarter.
Read More
Junior iron ore miner Mount Gibson Iron (MGX) yesterday owned up to a loss of $870 million for the December half year.
Read More
It’s not a casualty of the iron ore wars currently being waged on high cost producers here and in countries like China by BHP Billiton, Rio Tinto and Vale.
Read More
By some estimates, Australia’s pure iron ore miners have lost $10 billion in market value this year as the spot iron ore price has tumbled 45% to just over $US75 a tonne (in fact a year ago it was over $US130 a tonne).
Read More
Fourth quarter production was mixed with lower realised prices because of an inferior product mix that was offset by lower costs. Koolan Island is on track for first shipments in early 2019.
Read More
First half earnings were better than forecast, boosted by realised lump pricing. Earnings of $80m were 24% above Macquarie’s estimates.
Read More
Mt Gibson is transitioning from drawing on lower grade stockpiles to higher grade Iron Hill ore but the transition has affected lower sales in the June Q, with shipment delays also impacting. Low grade price discounting is continuing to have a significant impact, the broker notes.
Read More
The company has terminated a second offtake agreement for Iron Hill but still expects to be able to sell into the spot market. The termination is based on a failure to comply with a fundamental part of the agreement on behalf of the purchaser.
Read More
The board has approved the restart of the Koolan Island mine and when everything is paid for the company should still be left with some $300m in cash for which no strategy has been declared as yet, the analysts report.
Read More
