Reported Earnings • Feb 23
First half 2026 earnings released: AU$0.018 loss per share (vs AU$0.06 loss in 1H 2025) First half 2026 results: AU$0.018 loss per share (improved from AU$0.06 loss in 1H 2025). Revenue: AU$147.2m (down 8.2% from 1H 2025). Net loss: AU$20.8m (loss narrowed 71% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 06
Mount Gibson Iron Limited (ASX:MGX) completed the acquisition of 50% stake in Central Tanami Gold Project from Northern Star Resources Limited (ASX:NST). Mount Gibson Iron Limited (ASX:MGX) entered into an agreement to acquire 50% stake in Central Tanami Gold Project from Northern Star Resources Limited (ASX:NST) for AUD 50 million on July 16, 2025. A cash consideration of AUD 50 million will be paid by Mount Gibson Iron Limited, plus normal adjustments on completion. Mount Gibson will fund the purchase price from its internal cash reserves. Mount Gibson will also be required to replace existing bank guarantees totalling approximately AUD 5.8 million, which it will do from its existing performance bonding facility.
Completion will occur 10 days after satisfaction or (where permitted) waiver of: approval pursuant to the Foreign Investment Review Board; further extension of existing infrastructure arrangements on one tenement by the Central Land Council; non-exercise by Tanami Gold of its right of first refusal under the CTPJV; and various other pre-completion conditions considered standard for a transaction of this nature. These conditions must be satisfied by March 31, 2026 (unless extended by agreement). As of December 3, 2025, the transaction has been approved by Foreign Investment Review Board.
The transaction is expected to close by end of March 2026.
Azure Capital Pty Ltd. acted as financial advisor for Mount Gibson Iron Limited. Gilbert and Tobin acted as legal advisor for Mount Gibson Iron Limited. Entech Pty Ltd acted as project due diligence provider to Mount Gibson Iron. PwC acted as accountant to Mount Gibson Iron. Black Swan Metallurgy acted as advisors to Mount Gibson Iron.
Mount Gibson Iron Limited (ASX:MGX) completed the acquisition of 50% stake in Central Tanami Gold Project from Northern Star Resources Limited (ASX:NST) on February 6, 2026. Announcement • Jan 23
MGX Resources Limited to Report First Half, 2026 Results on Feb 19, 2026 MGX Resources Limited announced that they will report first half, 2026 results on Feb 19, 2026 Recent Insider Transactions • Oct 28
Non-Executive Chairman recently bought AU$59k worth of stock On the 27th of October, Brett Smith bought around 170k shares on-market at roughly AU$0.35 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Brett's only on-market trade for the last 12 months. Announcement • Oct 10
Mount Gibson Iron Limited, Annual General Meeting, Nov 12, 2025 Mount Gibson Iron Limited, Annual General Meeting, Nov 12, 2025. Reported Earnings • Aug 21
Full year 2025 earnings released: AU$0.069 loss per share (vs AU$0.005 profit in FY 2024) Full year 2025 results: AU$0.069 loss per share (down from AU$0.005 profit in FY 2024). Revenue: AU$330.5m (down 51% from FY 2024). Net loss: AU$82.2m (down AU$88.6m from profit in FY 2024). Production and reserves: Iron Production: 2.34 Mt (3.747 Mt in FY 2024) Number of mines: 1 (1 in FY 2024) Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 24
Mount Gibson Iron Limited to Report Fiscal Year 2025 Results on Aug 20, 2025 Mount Gibson Iron Limited announced that they will report fiscal year 2025 results on Aug 20, 2025 Reported Earnings • Feb 19
First half 2025 earnings released: AU$0.06 loss per share (vs AU$0.12 profit in 1H 2024) First half 2025 results: AU$0.06 loss per share (down from AU$0.12 profit in 1H 2024). Revenue: AU$170.3m (down 61% from 1H 2024). Net loss: AU$71.7m (down 152% from profit in 1H 2024). Revenue is expected to decline by 13% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Feb 19
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Price Target Changed • Dec 06
Price target decreased by 11% to AU$0.34 Down from AU$0.38, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of AU$0.33. Stock is down 40% over the past year. The company posted earnings per share of AU$0.0053 last year. Price Target Changed • Sep 13
Price target decreased by 24% to AU$0.38 Down from AU$0.50, the current price target is provided by 1 analyst. New target price is 29% above last closing price of AU$0.29. Stock is down 37% over the past year. The company posted earnings per share of AU$0.0053 last year. Announcement • Aug 23
Mount Gibson Iron Limited Provides Production Guidance for the Year 2025 Mount Gibson Iron Limited provided production guidance for the year 2025. The company is targeting total iron ore sales of 2.73.0 Mwmt of high-grade ore from its Koolan Island operation in year 2025, at a unit cash operating cost of AUD 95 wmt - AUD 100 wmt inclusive of capitalised mining costs and before royalties. New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 21
Full year 2024 earnings released: EPS: AU$0.005 (vs AU$0.004 in FY 2023) Full year 2024 results: EPS: AU$0.005 (up from AU$0.004 in FY 2023). Revenue: AU$684.5m (up 52% from FY 2023). Net income: AU$6.43m (up 24% from FY 2023). Profit margin: 0.9% (down from 1.1% in FY 2023). Revenue is expected to decline by 28% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 1.8%. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Aug 21
Mount Gibson Iron Limited, Annual General Meeting, Sep 17, 2024 Mount Gibson Iron Limited, Annual General Meeting, Sep 17, 2024. Buy Or Sell Opportunity • Jul 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to AU$0.39. The fair value is estimated to be AU$0.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jul 17
Mount Gibson Iron Limited to Report Fiscal Year 2024 Results on Aug 21, 2024 Mount Gibson Iron Limited announced that they will report fiscal year 2024 results on Aug 21, 2024 Buy Or Sell Opportunity • Jul 01
Now 14% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.5% to AU$0.42. The fair value is estimated to be AU$0.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 24
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.7% to AU$0.41. The fair value is estimated to be AU$0.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to AU$0.45. The fair value is estimated to be AU$0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to AU$0.46. The fair value is estimated to be AU$0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Apr 19
Mount Gibson Iron Limited Provides Earnings Guidance for Fiscal Year 2024 Mount Gibson Iron Limited provided earnings guidance for fiscal year 2024. For annual guidance, company continue to target sales of 3.8 million to 4.2 million tonnes of high-grade iron ore from Koolan Island. Price Target Changed • Mar 19
Price target decreased by 9.1% to AU$0.50 Down from AU$0.55, the current price target is provided by 1 analyst. New target price is 15% above last closing price of AU$0.43. Stock is down 13% over the past year. The company posted earnings per share of AU$0.0043 last year. Buy Or Sell Opportunity • Feb 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to AU$0.47. The fair value is estimated to be AU$0.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jan 18
Mount Gibson Iron Limited to Report First Half, 2024 Results on Feb 21, 2024 Mount Gibson Iron Limited announced that they will report first half, 2024 results on Feb 21, 2024 Price Target Changed • Nov 09
Price target decreased by 59% to AU$0.50 Down from AU$1.21, the current price target is provided by 1 analyst. New target price is 6.5% below last closing price of AU$0.54. Stock is up 23% over the past year. The company posted earnings per share of AU$0.0043 last year. Buying Opportunity • Oct 31
Now 20% undervalued Over the last 90 days, the stock is up 6.5%. The fair value is estimated to be AU$0.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Oct 21
Mount Gibson Iron Limited Provides Sales Guidance for the Fiscal Year 2024 Mount Gibson Iron Limited provided sales guidance for the fiscal year 2024. for the year, the company continue to target sales of between 3.8 million and 4.2 million wet metric tonnes. Buying Opportunity • Sep 07
Now 22% undervalued Over the last 90 days, the stock is up 10.0%. The fair value is estimated to be AU$0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Aug 24
Mount Gibson Iron Limited, Annual General Meeting, Nov 15, 2023 Mount Gibson Iron Limited, Annual General Meeting, Nov 15, 2023. Announcement • Aug 23
Mount Gibson Iron Limited Announces Board Changes Mount Gibson Iron Limited announced that Mr. Russell Barwick has resigned as a Non-Executive Director of the Company with effect from 23 August 2023. Mr. Barwick was appointed a Director in November 2011. The Company announced that Ms. Evian Delfabbro has agreed to join as an Independent Non-Executive Director of Mount Gibson Iron to succeed Mr. Barwick on the Board commencing her role with effect from 28 August 2023. Ms. Delfabbro is a civil engineer and lawyer and brings to the Board over two decades of experience in the commercial property, mining and construction sectors. She is currently a director of a boutique Sydney property company and a Queensland hard-rock quarrying business. She has previously held senior management roles with former ASX-listed commercial property company FKP Ltd, Port Bouvard Ltd. and Thakral Holdings. Ms. Delfabbro holds a Diploma of Law, Bachelor of Civil Engineering and Bachelor of Commerce from the University of Sydney. Reported Earnings • Aug 23
Full year 2023 earnings released: EPS: AU$0.004 (vs AU$0.15 loss in FY 2022) Full year 2023 results: EPS: AU$0.004 (up from AU$0.15 loss in FY 2022). Revenue: AU$452.6m (up 222% from FY 2022). Net income: AU$5.18m (up AU$179.3m from FY 2022). Profit margin: 1.1% (up from net loss in FY 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Jul 24
Fenix Resources Limited (ASX:FEX) completed the acquisition of Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX). Fenix Resources Limited (ASX:FEX) agreed to acquire Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX) for AUD 26.1 million on June 29, 2023. The consideration payable to Mount Gibson consists of AUD 10 million cash and 60 million ordinary shares in Fenix upon completion. Mount Gibson will also receive 12.5 million 5-year options exercisable at AUD 0.25 per share and 12.5 million 5-year options exercisable at AUD 0.30 per share, subject to the satisfaction of certain transaction-related conditions. Transaction is subject to the execution of new port services and lease agreements between Mid West Ports Authority and Fenix and the receipt of any necessary Western Australian Government Ministerial approvals that may be required in respect of the Ports Agreements; and the receipt of waivers and/or consents from various parties and banking institutions relating to the tenure and contractual rights for certain of the asset groups. The transaction is expected to complete in the September quarter assuming satisfaction of consents and conditions in respect of third party interests. Poynton Stavrianou acted as financial advisor and Hamilton Locke acted as legal counsel to Fenix in relation to the Transaction.
Fenix Resources Limited (ASX:FEX) completed the acquisition of Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX) on July 24, 2023. Mount Gibson has received AUD 10 million in cash, plus 60 million ordinary Fenix shares and 25 million Fenix options (exercisable in two tranches of 12.5 million options each at AUD 0.25 and AUD 0.30 respectively within five years of settlement), making Mount Gibson the single largest shareholder in Fenix with an approximate interest of 8.6%. Announcement • Jul 21
Mount Gibson Iron Limited to Report Fiscal Year 2023 Results on Aug 23, 2023 Mount Gibson Iron Limited announced that they will report fiscal year 2023 results on Aug 23, 2023 Announcement • Jun 30
Fenix Resources Limited (ASX:FEX) agreed to acquire Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX) for AUD 26.1 million. Fenix Resources Limited (ASX:FEX) agreed to acquire Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX) for AUD 26.1 million on June 29, 2023. The consideration payable to Mount Gibson consists of AUD 10 million cash and 60 million ordinary shares in Fenix upon completion. Mount Gibson will also receive 12.5 million 5-year options exercisable at AUD 0.25 per share and 12.5 million 5-year options exercisable at AUD 0.30 per share, subject to the satisfaction of certain transaction-related conditions. Transaction is subject to the execution of new port services and lease agreements between Mid West Ports Authority and Fenix and the receipt of any necessary Western Australian Government Ministerial approvals that may be required in respect of the Ports Agreements; and the receipt of waivers and/or consents from various parties and banking institutions relating to the tenure and contractual rights for certain of the asset groups. The transaction is expected to complete in the September quarter assuming satisfaction of consents and conditions in respect of third party interests. Poynton Stavrianou acted as financial advisor and Hamilton Locke acted as legal counsel to Fenix in relation to the Transaction. Buying Opportunity • Jun 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be AU$0.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Apr 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be AU$0.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Apr 04
Now 21% undervalued Over the last 90 days, the stock is up 1.0%. The fair value is estimated to be AU$0.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Mar 29
Price target decreased by 17% to AU$0.50 Down from AU$0.60, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of AU$0.50. Stock is down 20% over the past year. The company posted a net loss per share of AU$0.15 last year. Buying Opportunity • Mar 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.8%. The fair value is estimated to be AU$0.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Feb 28
Independent Non-Executive Director recently sold AU$170k worth of stock On the 23rd of February, Alan Stephen Jones sold around 300k shares on-market at roughly AU$0.57 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 23
First half 2023 earnings released First half 2023 results: Revenue: AU$152.0m (up 456% from 1H 2022). Net income: AU$7.40m (up AU$73.0m from 1H 2022). Profit margin: 4.9% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Jan 31
Mount Gibson Iron Limited Provides Sales Guidance for the Full Year 2023 Mount Gibson Iron Limited provided sales Guidance for the full year 2023. The company maintained current sales guidance of 3.2 million to 3.7 million wet metric tonnes of high-grade ore. Announcement • Jan 30
Mount Gibson Iron Limited to Report First Half, 2023 Results on Feb 22, 2023 Mount Gibson Iron Limited announced that they will report first half, 2023 results on Feb 22, 2023 Buying Opportunity • Jan 30
Now 23% undervalued Over the last 90 days, the stock is up 67%. The fair value is estimated to be AU$0.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company became loss making. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. Non-Executive Director Rucai Ding was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Nov 16
Price target decreased to AU$0.40 Down from AU$0.50, the current price target is provided by 1 analyst. New target price is 12% below last closing price of AU$0.46. Stock is up 28% over the past year. The company posted a net loss per share of AU$0.15 last year. Announcement • Oct 28
Mount Gibson Iron Limited Provides Sales Guidance for the Year 2022-23 Mount Gibson Iron Limited provided sales guidance for the year 2022-23. For the period, the company expects sales to be in the range of 3.2 Mwmt -3.7 Mwmt of high-grade iron ore, a significant increase on last year, at an average site cash operating cost of $70 wmt - $75 wmt sold FOB before royalties. Updates regarding the guidance estimates will be provided as the Koolan Island recovery plan progresses and shipment numbers increase. Announcement • Aug 25
Mount Gibson Iron Limited, Annual General Meeting, Nov 09, 2022 Mount Gibson Iron Limited, Annual General Meeting, Nov 09, 2022. Announcement • Aug 17
Mount Gibson Iron Limited Suspends Koolan Island Iron Ore Operation Due to Fire Incident Mount Gibson Iron Limited provided the following update in relation to the resolution of the screening plant fire incident that occurred on 12 August 2022 at the Koolan Island iron ore operation. On 12 August 2022, a fire occurred in the product sizing screen area within the Koolan Island crushing plant during a scheduled maintenance shutdown. All personnel working in the area were evacuated and there were no injuries. The fire was subsequently extinguished through the successful efforts of the site's Emergency Response Team. Initial assessment indicates that the fire has damaged part of the product sizing screen assembly and associated feeder and conveyor equipment. Assessment of surrounding steel structures is underway. While ore processing through the plant is currently suspended, mining of high grade iron ore from the Koolan Main Pit continues as planned. The site has sufficient crushed ore stockpiles on hand to meet immediate shipping requirements, and subsequent shipping rates will depend on the outcome andprogress of the repair and recovery plan. A preliminary plan is being developed to process and ship ore at up to approximately 40% of the plantcapacity from late August for an interim period. This could be further increased through the use of available mobile crushing units while repairs are undertaken. Mount Gibson will provide a further update regarding the repair and recovery plan in the near term as damage assessments and repair options are completed. The fire within the Koolan Island process screening plant circuit will temporarily slow the site's operational and financial improvement trajectory but is recoverable. With the improvements already realised to date, the mining of high grade ore continues to increase with the waste-to-ore stripping ratio declining as scheduled, and the site will be well positioned to recover the deferred shipments once processing capacity returns to planned levels. Announcement • Jul 30
Mount Gibson Iron Limited to Report Fiscal Year 2022 Results on Aug 24, 2022 Mount Gibson Iron Limited announced that they will report fiscal year 2022 results on Aug 24, 2022 Price Target Changed • Jul 04
Price target decreased to AU$0.70 Down from AU$0.85, the current price target is provided by 1 analyst. New target price is 32% above last closing price of AU$0.53. Stock is down 42% over the past year. The company posted earnings per share of AU$0.055 last year. Buying Opportunity • Jun 15
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be AU$0.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Apr 27
Price target increased to AU$0.78 Up from AU$0.71, the current price target is an average from 2 analysts. New target price is 19% above last closing price of AU$0.65. Stock is down 27% over the past year. The company posted earnings per share of AU$0.055 last year. Price Target Changed • Mar 01
Price target increased to AU$0.69 Up from AU$0.61, the current price target is an average from 2 analysts. New target price is 28% above last closing price of AU$0.54. Stock is down 41% over the past year. The company posted earnings per share of AU$0.055 last year. Reported Earnings • Feb 24
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.055 loss per share (down from AU$0.064 profit in 1H 2021). Revenue: AU$27.3m (down 89% from 1H 2021). Net loss: AU$65.6m (down 188% from profit in 1H 2021). Revenue missed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 303%, compared to a 761% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS AU$0.055 (vs AU$0.074 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: AU$329.7m (down 26% from FY 2020). Net income: AU$64.0m (down 24% from FY 2020). Profit margin: 19% (in line with FY 2020). Production and reserves: Iron Production: 1.431 Mt (2.765 Mt in FY 2020) Proved and probable reserves (ore): 2.8 Mt Number of mines: 1 (2 in FY 2020) Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Price Target Changed • Jun 14
Price target increased to AU$1.23 Up from AU$1.10, the current price target is provided by 1 analyst. New target price is 42% above last closing price of AU$0.86. Stock is up 28% over the past year. Price Target Changed • Mar 01
Price target lowered to AU$1.08 Down from AU$1.18, the current price target is provided by 1 analyst. The new target price is 20% above the current share price of AU$0.90. As of last close, the stock is up 22% over the past year. Reported Earnings • Feb 25
First half 2021 earnings released: EPS AU$0.064 (vs AU$0.039 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$258.8m (up 1.8% from 1H 2020). Net income: AU$74.6m (up 67% from 1H 2020). Profit margin: 29% (up from 18% in 1H 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 07
New 90-day high: AU$0.99 The company is up 37% from its price of AU$0.72 on 09 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 20% over the same period. Price Target Changed • Dec 13
Price target raised to AU$1.08 Up from AU$0.96, the current price target is provided by 1 analyst. The new target price is 17% above the current share price of AU$0.92. As of last close, the stock is up 0.5% over the past year. Is New 90 Day High Low • Dec 03
New 90-day high: AU$0.79 The company is up 5.0% from its price of AU$0.75 on 04 September 2020. The Australian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 18
New 90-day low: AU$0.69 The company is down 1.0% from its price of AU$0.70 on 20 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 1.0% over the same period. Announcement • Oct 10
Mount Gibson Iron Limited Provides Shine Iron Ore Project Update Mount Gibson Iron Limited provided the following update on the planned development of the Company's Shine Iron Ore Project, located 375km northeast of Perth, in the Mid-West region of Western Australia. Shine represents a near term, low capital production opportunity that will further extend Mount Gibson's 16-year operational presence in the Mid-West region, facilitated by the Company's established export infrastructure and logistics arrangements. Mount Gibson has declared Proved and Probable Ore Reserves of 2.8 million dry metric tonnes grading 59.4% Fe, using a 55% Fe cut-off, within an initial "Stage 1" pit development, for a mine life of two years. Mine life could potentially be extended a further two years by developing a "Stage 2" pit subject to market conditions remaining supportive, based on Measured and Indicated Resources within the modelled pit shells. The Company is currently finalising commercial and permitting requirements to commence development and achieve targeted first ore sales in mid-2021. Shine Ore Reserve Estimate: Mount Gibson previously reported an Ore Reserve estimate for the Shine deposit in March 2014. However, this was later removed in 2015 when the Project was deferred indefinitely due to deteriorating iron ore market conditions. Mount Gibson began a detailed technical review of the Shine Project in early 2020. This included the engagement of AMC Consultants Pty Ltd. (AMC) to undertake a mine planning and pit optimisation study, and Coffey Services Australia Pty Ltd. (Coffey) to undertake a geotechnical review. This information was combined with Mount Gibson's haulage and port assumptions to determine Ore Reserves for the Shine project in accordance with the JORC Code, 2012 Edition. The total Proved and Probable Hematite Ore Reserves are estimated at 2.8 Mt at an average grade of 59.4% Fe using a cut-off grade of 55% Fe. Mineral Resources are reported inclusive of Ore Reserves. The
Shine Hematite Mineral Resource has not changed since 30 June 2020. Information material to understanding the Shine Ore Reserves Mount Gibson has completed this Ore Reserve estimate for the Shine Iron Ore Project based on past feasibility and technical studies, Mount Gibson's experiences with mining operations and transport arrangements at its Extension Hill operation in the Mid-West, and quotations from operating contractors and transport service providers. The estimate is supported by a mine planning and optimisation study by AMC and geotechnical review by Coffey, in the context of prevailing iron ore market conditions. The total Proved and Probable Hematite Ore Reserve is estimated at 2.8 Mt at an average grade of 59.4% Fe using a cut-off grade of 55% Fe. Mineral Resources are inclusive of Ore Reserves. Ore Reserves are defined as the mined material which is delivered to the run-of-mine (ROM) pad which will be crushed and sold as DSO products. Mount Gibson confirms the Ore Reserves and Mineral Resource estimates underpinning the production target for the Shine Iron Ore Project have been prepared by competent persons in accordance with the requirements in Appendix 5A (JORC Code). Refer to page 4 of this report for Competent Person attributions. Announcement • Sep 24
Mineral Resource and Ore Reserve Estimates of Mount Gibson Iron Limited as at 30 June 2020 The Mineral Resource and Ore Reserve estimates of Mount Gibson Iron Limited as at 30 June 2020. Total Mineral Resources are estimated at 69.4 million tonnes (Mt) of iron ore at an average grade of 61.7% Fe (30 June 2019: 74.2 Mt @ 61.8% Fe). Total Ore Reserves are 18.7Mt at 65.2% Fe (30 June 2019: 20.3Mt at 65.5% Fe). The reductions in the estimates from a year ago largely reflect mining depletion, net of Koolan Island Ore Reserve additions, and the removal of remnant resources at the now-rehabilitated Tallering Peak mine site. Total Mineral Resources were reduced by approximately 4.8Mt in the year to 30 June 2020 through mining depletion of 3.1Mt at the Main Deposit at Koolan Island, and removal of final remnant resources totaling 1.7Mt at the now-rehabilitated Tallering Peak mine site. Mineral Resources at Koolan Island at 30 June 2020 totalled 48.0 Mt grading 63.7% Fe, including 38.0Mt at 64.6% Fe in the Main Deposit. Mineral Resources remain unchanged at the Acacia East and Mangrove satellite deposits at Koolan Island, and at the Extension Hill, Iron Hill and Shine deposits in the Mid-West. The company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mount Gibson's total Ore Reserves reduced over the year by approximately 1.6Mt to 18.7Mt grading 65.2% Fe, all at the Main Deposit at Koolan Island, reflecting depletion of 3.1Mt from mining and the addition of 1.5Mt arising from design improvements for the Main Pit. The 1.5Mt increase in Ore Reserves followed a review of the Main Pit geotechnical parameters which resulted in an increased batter angle in the hanging-wall rock units from 75 degrees to 80 degrees being adopted in the Life of Mine pit design from approximately 25 metres from surface level. The revised design parameters were externally validated before being adopted in the Life of Mine pit design. Announcement • Jul 25
Mount Gibson Iron Limited to Report Fiscal Year 2020 Results on Aug 19, 2020 Mount Gibson Iron Limited announced that they will report fiscal year 2020 results at 9:15 PM, GMT Standard Time on Aug 19, 2020