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MGX - Mount Gibson Iron (MGX)

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Username: spdfgh

Post Number: 361
Registered: 06-2004

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Thursday, June 07, 2018 - 08:14 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)

Mount Gibson Iron (MGX)
Share Issue 1.1 billion
Market Cap $487.97 million

Mount Gibson Iron Limited (MGX) is involved in exploration, development and mining of iron ore in Western Australia. The company has three major projects being: Koolan Island and Extension Hill. For FY15, total ore sales were 5.8Mt. The total mineral resources and reserves as of June 2015 stood at 94.93Mt @ 61.2% Fe and 7.06Mt @ 58.4% Fe respectively.

Established in Perth in 1996 and listed on the Australian Stock Exchange (ASX) in 2002, the Company’s asset portfolio includes:

Koolan Island – a high grade iron ore mine off the Kimberley coast of Western Australia, acquired through Mount Gibson’s successful takeover of Aztec Resources in 2007. High grade DSO production is scheduled to resume in the first quarter of 2019.
Extension Hill/Iron Hill DSO (Direct Shipping Ore) – located in the Mt Gibson Range, 260km southeast of Geraldton. Production commenced at Extension Hill in late 2011, yielding over 15Mt of DSO by the completion of mining in late 2016. Production switched to the nearby Iron Hill deposit in early 2017, where mining is scheduled to conclude in late 2018.
Tallering Peak – The Company’s first mine, located approximately 175 kilometres east of the port city of Geraldton, commenced production in late 2003. Operations were completed in mid 2014 after life of mine ore sales totalling in excess of 25 million tonnes. The site was closed in September 2014, with final rehabilitation completed in 2015.

Just another potato.

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