Mount Gibson Iron Limited (AU:MGX) has released an update.
Mount Gibson Iron Limited reported a solid financial performance in the March 2024 quarter, with 0.7 million wet metric tonnes of iron ore sold at an average grade of 65.4% Fe. The company’s revenue reached $130 million FOB for the quarter, contributing to a nine-month revenue of $566 million FOB, and they boast a strengthened cash and investment reserve of $430 million. Despite seasonal weather challenges, Mount Gibson remains on target with its FY24 guidance and continues to leverage its high-grade Koolan Island ore for robust cashflows.
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