Mt Gibson pushes up sales in March quarter
PERTH (miningweekly.com) – Junior iron-ore miner Mount Gibson has reported a 16% quarter-on-quarter increase in ore sales for the three months to March, as the company’s efforts at Iron Hill, in the Mid West, paid off.
Mount Gibson sold some one-million tonnes of ore during the March quarter, generating free-on-board revenues of A$60-million. This compared with the 841 000 t sold in the December quarter.
“A pleasing operational performance in the Mid West and steady progress at the high-grade Koolan Island restart project, in the Kimberley, have underpinned another healthy result for Mount Gibson in the March quarter,” said CEO Jim Beyer on Thursday.
“Total iron-ore sales rose by 16% quarter-on-quarter, while the Koolan Island restart project progressed to be 57% complete at the end of March, despite several weather related interruptions. Operational cash flow from the Mid West operations remained solid, partially offsetting our ongoing investment at Koolan Island, with cash and liquid investment reserves totalling A$470-million at the end of March.”
Beyer said that the company’s operational focus remained on maximising sales and cash flows from the Iron Hill operation, where mining is scheduled to complete later this year, while also progressing work at Koolan Island, which remains on track to achieve first sales in the March quarter of next year.
“We are also in the final stages of our evaluation of the potential for an extension at the eastern end of the Main pit, and are on schedule to make our final investment decision during the current quarter.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation