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General Information

Mount Gibson Iron Limited
MGX
http://www.mtgibsoniron.com.au
Steel
202
1,091

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.19 $0.19 $0.20 $0.19 $0.19 2544040 $0.01 ( 2.63% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Sell
31/07/2015
4

Company Overview

Business Description
Mount Gibson Iron Limited (MGX) is involved in exploration, development and mining of iron ore in Western Australia. The company has three major projects being: Tallering Peak, Koolan Island and Extension Hill. For FY14, total ore sales were 9.7Mt. The total mineral resources and reserves as of June 2014 stood at 83.27Mt @ 61.8% Fe and 44.29Mt @ 62.0% Fe respectively.
Strategy Analysis
Mount Gibson seeks to maintain and grow long term profitability through discovery, development, participation and/or acquisition of mineral resources. The aim is to lift and sustain production beyond 10 million tonnes of iron ore a year and to extend life to beyond 15 years through exploration and development and/ore acquisition. Mount Gibson Iron reported NPAT down 71.4% to $37.1m for the half-year ended 31 December 2012. Revenues from ordinary activities were $416.2m, up 10.4% from the same period last year, reflecting lower realised iron ore prices, broader product mix, and early adoption of new waste accounting requirements. Diluted EPS was 3.41 cents compared to 12 cents last year. Net operating cash flow was $43.13m compared to $123.16m last year. The interim dividend declared was 2 cents in line with 2 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F -77.2 -7.1 29.3% -2.7 0.0 0.0% 0.0%
2015 F -59.8 -5.5 -150.8% -3.5 0.0 0.0% 100.0%
2014 A 117.7 10.8 26.5% 7.7 4.0 4.8% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Arrium (ARI) $352M -0.6786 0.0000 0.0000 0.5019 0.0000 0.0000 65.17% 0.00% 0.00%
BlueScope Steel (BSL) $2,052M 0.0000 0.8318 0.1532 33.1810 18.1138 15.7075 0.00% 2.09% 2.60%
Fortescue Metals (FMG) $5,776M 0.7497 -0.8353 -0.4707 1.9891 12.0768 22.8167 11.44% 2.44% 1.07%
Mount Gibson Iron (MGX) $207M 0.0351 0.0000 0.0000 2.1518 0.0000 0.0000 21.05% 0.00% 0.00%
Sims Metal Management (SGM) $1,938M 3.0215 0.4020 0.3306 28.1046 20.0466 15.0661 1.06% 2.72% 3.58%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.70 0.00 0.16 0.00
Market 0.90 16.20 1.34 1.33
Sector 0.64 12.10 0.67 0.36

Directors

Name Position Start Date
Mr Andrew Ferguson Alternate Director 24/09/2012
Mr Hui Seng Lee Non-Executive Chairman 29/01/2010
Mr Russel Christopher Barwick Non-Executive Director 16/11/2011
Mr Simon Bird Non-Executive Director 23/02/2012
Mr Alan Jones Non-Executive Director 28/07/2006
Mr Paul Dougas Non-Executive Director 16/11/2011
Mr Li Shaofeng Non-Executive Director 07/11/2011

Management

Name Position
Jim Beyer Chief Executive Officer
Peter Kerr Chief Financial Officer
Andrew Thomson Chief Operating Officer
David Stokes Company Secretary

Substantial Shareholders

Holding Name
282,992,277 (25.95%) COL Capital Limited
279,877,774 (25.66%) APAC Resources Ltd (formerly Shanghai Merchants Holdings Limited)
154,166,874 (14.14%) Shougang Fushan Resources Group Limited, True Plus Limited and its subsidiaries
154,166,874 (14.14%) Shougang Corporation Group/Shougang Concord Group

Calendar of Events

Date Event
13 July 2016 Report (Quarterly)
22 April 2016 Report (Quarterly)
16 February 2016 Report (Interim)
27 January 2016 Report (Quarterly)
09 December 2015 Report (Annual)
13 October 2015 Report (Quarterly)
09 October 2015 Report (Annual)
19 August 2015 Report (Prelim)
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