Mount Gibson Iron
MOUNT GIBSON IRON (MGX) Shares
ABOUT MOUNT GIBSON IRON
Mount Gibson Iron Limited, an independent Australian iron ore producer, was founded in 1996 and has its headquarters in Perth. The company produces hematite ore, the primary form of iron ore.
The company owns mining leases for hematite and magnetite deposits at Mount Gibson in Western Australia. Since sales commenced in the beginning of 2004, it has exported more than 70 million tonnes of iron ore from these operations.
Additionally to its mining operations, the company also operates a bulk cargo export port at Geraldton. Ore from its Midwest operations are exported through this established port.
The company is the highest grade producer of direct-shipping (DSO) hematite in Australia. Its main competitors are Athena, Atlas Iron and Legacy Iron Ore.
Today, the company employs 343 people across its operations.
OVERVIEW OF MOUNT GIBSON IRON
Mount Gibson Iron Limited produces hematite ore, the primary form of iron ore. It owns mining rights for Extension Hill/Iron Hill, Mount Gibson and Koolan Island. It also operated the Tallering Peak mine (its first mine) where sales exceeded 25Mt by the time production was halted at the end of 2014. Final site rehabilitation was concluded in 2015.
Koolan Island is the company’s flagship project. This mine is situated in the Buccaneer Archipelago, about 140km north of Derby. The company acquired the mine via the acquisition of Aztec Resources Ltd in 2017.
It boasts the highest grade hematite ore reserves in Australia, totalling 21.0Mt grading 65.5% Fe.
Although mining was interrupted in 2014 due to the collapse of a seawall which flooded the main pit, production and sales recommenced in April 2019 after a seawall reconstruction and mine refurbishment program.
Extension Hill/Iron Hill, located 260km east of Geraldton, yielded 15Mt of iron ore by the time reserves were depleted at the end of 2016. It then commenced production at the Iron Hill deposit nearby.
This mine yielded an additional 5Mt of iron ore when the last sales were concluded in February 2019.
VISION & VALUES OF MOUNT GIBSON IRON
Mount Gibson Iron Limited conducts its business operations according to a business model it calls “The MGX Way”.
This model serves a behavioural guide on how to sustainably deliver shareholder value. It includes putting the health and safety of people first, collaborating with the communities in which it operates, and acting in an environmentally responsible and sustainable manner.
This approach enables healthy relationships with all its stakeholders and adds exceptional value for shareholders who purchase company shares.
MARKET PERFORMANCE OF MOUNT GIBSON IRON
Mount Gibson Iron Limited trades on the Australian Securities Exchange (ASX) under the stock symbol MGX. The company is a constituent of the S&P/ASX-300 Index.
For fiscal 2019, the company recorded total revenue of $ 289.5 million on iron-ore sales of 3.2 million tonnes. Net profit before tax from all operations was $ 70.5 million. Its fully franked final dividend per share was 4.0 cents.
This healthy performance affords shareholders the confidence to buy or sell company shares in the expectation of solid dividends and returns.
Buy MOUNT GIBSON IRON stocks / shares – ? A Step by Step Guide how to Buy / Purchase MOUNT GIBSON IRON Stocks or Shares online.
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy MOUNT GIBSON IRON Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN MOUNT GIBSON IRON STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a $5 stock, multiply 100 by $5 to get $500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE MOUNT GIBSON IRON STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of MOUNT GIBSON IRON stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy MOUNT GIBSON IRON stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?