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An update from Mount Gibson Iron Limited ( (AU:MGX) ) is now available.
MGX Resources Limited has received approval from Australia’s Foreign Investment Review Board for its $50 million acquisition of a 50% interest in the Central Tanami Gold Project Joint Venture in the Northern Territory. This acquisition, from Northern Star Resources, positions MGX to establish itself as a significant player in the Australian gold industry. The finalization of the transaction is contingent upon securing an extension of infrastructure arrangements with the Central Land Council, with MGX optimistic about completing the deal ahead of the March 2026 deadline.
The most recent analyst rating on (AU:MGX) stock is a Hold with a A$0.39 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 is a company involved in the mining industry, focusing on becoming a long-life Australian gold producer. The company is engaged in acquiring and developing mineral projects, with a particular emphasis on gold production.
Average Trading Volume: 1,832,414
Technical Sentiment Signal: Buy
Current Market Cap: A$442.7M
Learn more about MGX stock on TipRanks’ Stock Analysis page.