Australia's Mount Gibson Iron jumps most in 6-1/2 wks on reaffirming FY24 view

MGX Resources

18/01/2024 02:14

** Shares of Mount Gibson Iron  MGX.AX  rise as much as 3.9%
to A$0.535, set for their best day since Dec. 4 - if current
gains hold 
    ** Iron ore producer maintains FY24 guidance for ore sales
of 3.8 million wet metric tonnes (Mwmt) - 4.2 Mwmt at an average
unit cash operating cost of A$65-A$70/wmt free on board (FOB) 
    ** Says for December quarter, iron ore sales were 1.2 Mwmt
with sales revenue of A$228 mln ($149.55 mln)
    ** About 1.8 mln shares change hands, compared with the
30-day average volume of 1.2 mln
    ** Stock has fallen 6.4% this year as of last close


($1 = 1.5246 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))