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An update from Mount Gibson Iron Limited ( (AU:MGX) ) is now available.
Mount Gibson Iron Limited has announced an updated Mineral Resource Estimate for the Central Tanami Gold Project Joint Venture, where it has agreed to acquire a 50% interest from Northern Star Resources Limited for $50 million. The updated estimate shows an increase to 31 million tonnes grading 2.8 grams per tonne gold, totaling 2.8 million ounces of contained gold, which could significantly enhance Mount Gibson’s position in the gold mining sector.
The most recent analyst rating on (AU:MGX) stock is a Hold with a A$0.50 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
Mount Gibson Iron Limited operates in the mining industry, focusing on iron ore production and exploration. The company is expanding its portfolio by acquiring interests in gold projects, such as the Central Tanami Gold Project Joint Venture.
YTD Price Performance: 25.42%
Average Trading Volume: 1,923,658
Technical Sentiment Signal: Buy
Current Market Cap: A$436.8M
For a thorough assessment of MGX stock, go to TipRanks’ Stock Analysis page.