Australia's Mount Gibson Iron jumps on reaffirmed FY24 shipment guidance

MGX Resources

05/04/2024 03:50

** Shares of Mount Gibson Iron  MGX.AX  rise as much as 4.7%
to A$0.450, highest level since March 12
    ** Iron ore miner says it is on track to achieve its iron
ore shipments outlook of 3.8-4.2 mln wet metric tonnes (Mwmt) in
FY24 vs shipments of 3.0 Mwmt in FY23
    ** Stock set for best day since March 28, if gains hold
    ** MGX down 21.8% YTD, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))