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31.5¢ mount gibson iron limited

Yep, the market has not awoken up to the earning potential of KI

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11/12/16

10:16

Post #: 21253619
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Originally posted by Samscout ↑

NewB

I do agree with you re the board getting on with it.

I should point out that Iron Hills 5 million tonnes at todays prices should yield a profit of around $15 a tonne so Iron Hill could yield $75 million in cash. So yeah while it's small it should at the very least justify this stock trading above cash backing for a bloody change.

Personally I'm hanging on to see if they restart Koolan Island - that ore is top quality that gets a premium to the benchmark prices - so in todays prices it would be yielding around the mid $80 in US dollars and around $110 in AUD. If you go on Macquaries estimate of $35 a tonne cost for KI, and a reserve of around 15 million tonnes that means KI would yield over $1 billion in profits in the next five years. (15 * 70 = 1050) less the capex to start up. (less than $100 million)

I'd like to see the board start a share buyback or use up the franking credits - given the stock is trading at a discount it's a riskless profit - given their inability to execute any other deals it the least they can do for shareholders.

GLTA/IMHO

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Yep, the market has not awoken up to the earning potential of KI

MGX Price at posting: 34.0¢ Sentiment: Buy Disclosure: Held
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Last 31.5¢		Change 0.010(3.28%)		Mkt cap ! $365.5M

Open	High	Low	Value	Volume
30.5¢	31.5¢	30.0¢	$284.3K	924.8K

Buyers (Bids)

No.	Vol.	Price($)
6	249510	31.0¢

Sellers (Offers)

Price($)	Vol.	No.
31.5¢	242808	6

View Market Depth

No.	Vol.	Price($)
1	37120	0.920
3	45770	0.915
3	31253	0.910
3	68342	0.905
2	44392	0.900

Price($)	Vol.	No.
0.925	15328	2
0.930	89494	6
0.935	70442	3
0.940	72592	7
0.945	128342	5

Last trade - 15.59pm 02/12/2024 (20 minute delay)

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