MGX Resources Reports Lower March Quarter Iron Ore Sales; Shares Rise 3%
MT Newswires Live
Apr 24
MGX Resources (ASX:MGX) reported March quarter iron ore sales of 390,000 wet metric tonnes, down from 715,000 wet metric tonnes a year earlier, according to a Friday filing with the Australian bourse.
During the quarter, the company completed its acquisition of a 50% stake in the Central Tanami project joint venture in the Northern Territory for AU$50 million.
MGX Resources said it is now working with JV partner Tanami Gold to determine the best path to a development decision and future production.
Shares of MGX gained 3% in recent Friday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.