Mount Gibson Iron Ltd
ASX:MGX
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Mount Gibson Iron Ltd
ASX:MGX
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Mount Gibson Iron Ltd
Mount Gibson Iron Ltd. engages in the business of mining, exploration, and development of hematite iron ore deposits. The company is headquartered in Perth, Western Australia and currently employs 355 full-time employees. The firm operates through two segments, which include Mid-West and Koolan Island. The Mid-West segment includes the crushing, transportation and sale of iron ore from the Extension Hill and Shine iron ore deposits and the port facilities at Geraldton Port. The Koolan Island segment includes the mining, crushing and sale of iron ore from the Koolan Island iron ore operation. Its Koolan Island is located in the Buccaneer Archipelago, approximately 140 kilometers north of Derby. The Company’s Shine Iron Ore Project (SIOP) is located 85 kilometers north of the Company’s Extension Hill operation and approximately 375 kilometers northeast of Perth in the Mid-West region of Western Australia. The Company’s subsidiaries include Mount Gibson Mining Limited, Geraldton Bulk Handling Pty Ltd, Gibson Minerals Ltd and Aztec Resources Limited.
Mount Gibson Iron Ltd. engages in the business of mining, exploration, and development of hematite iron ore deposits. The company is headquartered in Perth, Western Australia and currently employs 355 full-time employees. The firm operates through two segments, which include Mid-West and Koolan Island. The Mid-West segment includes the crushing, transportation and sale of iron ore from the Extension Hill and Shine iron ore deposits and the port facilities at Geraldton Port. The Koolan Island segment includes the mining, crushing and sale of iron ore from the Koolan Island iron ore operation. Its Koolan Island is located in the Buccaneer Archipelago, approximately 140 kilometers north of Derby. The Company’s Shine Iron Ore Project (SIOP) is located 85 kilometers north of the Company’s Extension Hill operation and approximately 375 kilometers northeast of Perth in the Mid-West region of Western Australia. The Company’s subsidiaries include Mount Gibson Mining Limited, Geraldton Bulk Handling Pty Ltd, Gibson Minerals Ltd and Aztec Resources Limited.
Sales Miss: Fiscal 2025 iron ore shipments were 2.61 million tonnes, coming in below guidance and well below last year's sales of 4.1 million tonnes.
Revenue & Loss: Revenue was $330.5 million, but the company reported a net loss after tax of $82.2 million due to lower prices, higher costs, and $90.4 million in impairments.
Rising Costs: Cash operating costs increased significantly to $101/tonne ($110/tonne including capitalized waste), up from $74/tonne last year.
Cash Reserves: Cash and investments rose to nearly $485 million with no bank debt, equivalent to over $0.40/share.
Outlook FY26: Koolan Island is expected to ship 3–3.2 million tonnes of high-grade ore at lower unit costs of AUD 80–85/tonne as mining moves past the high waste phase.
Tangible Growth: The company is acquiring a 50% stake in the Central Tanami Gold Project, marking a major step toward multi-commodity growth.
No Dividend: No dividend declared for FY25; capital returns are focused on a share buyback, which has repurchased 3.2% of shares so far.
