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Mount Gibson Iron Limited ( (AU:MGX) ) has provided an update.
MGX Resources has stabilised its operations and preserved a strong balance sheet following a substantial rockfall at its Koolan Island iron ore mine in October 2025, which forced the suspension of mining and a shift to processing lower grade stockpiles. In the December 2025 quarter, the company generated $15 million in free cash flow, sold 0.8 million tonnes of iron ore (including 0.48 million tonnes of low-grade material), and ended the period with $497 million in cash and investments, while implementing significant cost reductions, advancing site rehabilitation and exploring future uses for the island’s logistics and mining infrastructure. MGX expects to process and ship a further 1.0 million tonnes of low-grade stockpiles by late in the June 2026 half, materially offsetting previously anticipated post-rockfall costs, and has flagged a non-cash impairment of $55–65 million on Koolan Island assets for the December half-year. Concurrently, the company’s planned acquisition of 50% of the Central Tanami Gold Project remains on track for completion in the March 2026 quarter after regulatory approval, with the project’s mineral resources upgraded to 31 million tonnes at 2.8 grams per tonne for 2.8 million ounces of gold, underscoring a strategic diversification into one of Australia’s higher-grade undeveloped gold assets.
The most recent analyst rating on (AU:MGX) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Mount Gibson Iron Limited stock, see the AU:MGX Stock Forecast page.
More about Mount Gibson Iron Limited
MGX Resources Limited, recently renamed from Mount Gibson Iron, is an Australian resources company primarily focused on iron ore mining at Koolan Island in Western Australia and, increasingly, on gold through its move to acquire a 50% stake in the Central Tanami Gold Project Joint Venture. The company operates without bank debt and maintains substantial cash and investment reserves, positioning it as a well-capitalised mid-tier player in the bulk commodities and emerging gold sectors.
Average Trading Volume: 1,087,881
Technical Sentiment Signal: Buy
Current Market Cap: A$531.2M
Find detailed analytics on MGX stock on TipRanks’ Stock Analysis page.