MOUNT GIBSON IRON LIMITED - REQUEST FOR TRADING HALT

  1. 5.1k
    Posts

    MOUNT Gibson Iron’s development of the new Shine project in Western Australia’s Mid West region is ahead of schedule and on budget, with shipments targeted to commence early next quarter.

    https://www.miningnews.net/bulks/news/1408766/mount-gibson%E2%80%99s-shine-ahead-of-schedule%C2%A0

    1 like
  2. 77.3k
    Posts

    that will cheer up China i assume it will take a year or two for that mine to be running at an operating profit , but development costs should be help in check in the near term , would be nice to send a few shiploads before the next cyclone season

    1 like
  3. 5.1k
    Posts

    MGX pre-market depth looking strong with 1.73M buy side vs only 1.09M sell side :)

    P.S. Perhaps a crack towards $1 soon?

    1 like
  4. 5.1k
    Posts

    Mt Gibson Iron's March quarter was impacted by advanced stripping, the broker notes, leading to reduced sales, lower realised prices and higher costs.

    Stripping is expected to continue into the June quarter. Sales should increase thereafter and costs reduce and buoyant iron ore prices continue to drive earnings upside momentum, with earnings increasing by 130% and 300% above the broker's forecast in FY22 and FY23 at spot prices. Outperform and $1.00 target retained.

    Macquarie forecasts a full year FY21 dividend of 3.00 cents and EPS of 6.40 cents.

    Macquarie forecasts a full year FY22 dividend of 7.00 cents and EPS of 21.80 cents.

    1 like
  5. 77.3k
    Posts

    am thinking the 2022 div. prediction is a bit optimistic , but i guess time will tell

    i think MGX will reinvest some of those 2022 profits ( which is not a totally bad thing in my opinion )

    1 like
  6. 5.1k
    Posts

    I agree Sal about not such a bad idea MGX re-investing some of the 2022 profits but did think FY22 forecast seemed a bit optimistic as well not that am complaining though lol like as you said time will tell

    1 like
  7. 77.3k
    Posts

    as best i can tell MGX have several development options

    but then again BHP isn't going gang-busters on Olympic Dam , so maybe there is an argument for waiting/reducing debt as well

    a 4 cent div. in 2022 would probably have me smiling from ear to ear

    1 like
  8. 5.1k
    Posts

    At the moment all technical chart indicators are bearish within current strong downtrend. Until such time we see glimpses of a turnaround.. I'll continue to watch closely from the sidelines awaiting any potential buy alert.

    https://www.barchart.com/stocks/quotes/MGX.AX/opinion

    https://asx.swingtradebot.com/equities/MGX:ASX

    https://www.aussiebulls.com/SignalPage.aspx?lang=en&Ticker=MGX.AX

    DYOR as always.. Cheers tela

    1 like
  9. 77.3k
    Posts

    bought recently @ 83c , 70c , and 63c

    while sit and reconsider my next top-up price now that it has closed below 50c

    IMO the real mining boom is still a couple of years away , you know the one that is propelled be REAL economic growth and infrastructure building ( and repairs )

    DYOR

    take care

    1 like
  10. 5.1k
    Posts

    Gee whiz Sal as sorry to hear about above mate as seems you are unfortunately deep in the red then :(

    Luckily I got out @ 0.75c and am watching/awaiting a re-entry perhaps say closer to 0.45c or thereabouts..

    Good luck!

    1 like
  11. 77.3k
    Posts

    but this is not a genuine mining boom , in my opinion

    the real thing is roughly three years away maybe more , the price is currently up on weak currencies , and supply chain disruptions , not massive demand

    MGX is planning to expand , it means i will have to work harder to average down the share price

    MGX has the advantage of Chinese on the board , so MIGHT have less pressure to find customer diversity

    1 like
  12. 5.1k
    Posts

    Australia's most valuable commodity Iron Ore has seen its price plummet by 45% since May, with warnings that next year could be worse.

    https://www.news.com.au/finance/economy/australian-economy/china-causes-big-aussie-export-to-drop-11-per-cent-in-one-week/news-story/d16287ac37daa5e9f740b2baaba965ac

    1 like
Your browser is too old for TopStocks and not secure. Please update your browser