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Business Description: 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: Tallering Peak, Koolan Island and Extension Hill. For FY12, Annual ore sales were 5.2Mt with 6.9Mt of ore mined and crushed. The total mineral resources and reserves stood at 95.2Mt @ 61.6% Fe and 44.3Mt @ 62.6% Fe respectively.
Strategy Analysis: Mount Gibson seeks to maintain and grow long term profitability through discovery, development, participation and/or acquisition of mineral resources. The aim is to lift and sustain production beyond 10 million tonnes of iron ore a year and to extend life to beyond 15 years through exploration and development and/ore acquisition.
Mount Gibson Iron reported NPAT down 71.4% to $37.1m for the half-year ended 31 December 2012. Revenues from ordinary activities were $416.2m, up 10.4% from the same period last year, reflecting lower realised iron ore prices, broader product mix, and early adoption of new waste accounting requirements. Diluted EPS was 3.41 cents compared to 12 cents last year. Net operating cash flow was $43.13m compared to $123.16m last year. The interim dividend declared was 2 cents in line with 2 cents last year.
A property trust allows you to buy 'units' in an investment operated by a professional investment manager. This Guide will help you understand the risks and decide whether to invest your money.
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Sydney Morning Herald 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
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