Mount Gibson Iron Limited (AU:MGX) has released an update.
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Mount Gibson Iron Limited reported a successful financial year with increased iron ore exports and a revenue jump to $667.7 million. Despite facing accounting impairments, the company doubled its profit before tax and impairments to $211.6 million and increased cash reserves significantly. Looking forward, Mount Gibson is focused on maximizing cashflow and exploring new investment opportunities as it approaches the scheduled closure of its Koolan Island operation.
For further insights into AU:MGX stock, check out TipRanks’ Stock Analysis page.
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