MGX 1.59% 32.0¢ mount gibson iron limited

News: MGX Mount Gibson Iron enters agreement with Sinogiant Steel

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    Nov 24 (Reuters) - Mount Gibson Iron Ltd (MGX) :

    • Has entered into an offtake agreement with Chinese customer Sinogiant Steel Holdings Group Limited
    • Deal for purchase of approximately one quarter of first year's available annual production planned from company's iron hill iron ore deposit
    • Development capital costs are expected to total $2-3 million
    • all-in cash costs are expected to be consistent with extension hill
 
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