Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mount Gibson Iron Limited ( (AU:MGX) ) has provided an announcement.
Mount Gibson Iron Limited has reported a significant reduction in its Mineral Resources and Ore Reserves at Koolan Island as of June 30, 2025. The total Mineral Resources have decreased to 9.7 million dry metric tonnes from 19.1 million the previous year, and Ore Reserves have fallen to 4.1 million tonnes from 7.2 million. This reduction is attributed to mining depletion, stockpile drawdowns, and the declassification of resources at the Acacia East satellite deposit, which are now considered economically unviable due to factors like iron ore pricing and geotechnical challenges. These changes reflect the company’s ongoing adjustments to its operations as it approaches the end of the mine’s life, impacting its production capacity and market positioning.
The most recent analyst rating on (AU:MGX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Mount Gibson Iron Limited stock, see the AU:MGX Stock Forecast page.
More about Mount Gibson Iron Limited
Mount Gibson Iron Limited is an Australian company operating in the mining industry, primarily focused on the extraction and sale of high-grade iron ore. Its operations are centered on Koolan Island, known for its high-grade direct shipping hematite iron ore.
YTD Price Performance: 40.68%
Average Trading Volume: 1,824,736
Technical Sentiment Signal: Hold
Current Market Cap: A$489.9M
See more data about MGX stock on TipRanks’ Stock Analysis page.