MGX Resources Limited. (MGX) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining today's teleconference for the release of Mount Gibson Iron Financial Results for year ended 30 June 2023. Mount Gibson Chief Executive Officer Peter Kerr will be leading the discussion and is joined by Chief Financial Officer Jill Dobson and External Relations Manager John Facius. Mr Kerr will provide a brief overview after which there will be an opportunity to ask questions. Due to time constraints, only institutional participants will be invited to ask questions at that time. A recording of the call will also be available via the Mount Gibson website shortly after completion of today's teleconference. Thank you, and go ahead, please, Peter. Thanks, Lisa. Good morning, all, and thanks for joining us to discuss Mount Gibson Iron's financial results for the 23rd financial year. As usual, I'll give a brief overview and then hand back to Lisa for any questions that may come from the floor. From an overall perspective, it was satisfying to see the significant underlying financial improvement we achieved over the course of the year. And while sales in the first half were restricted following the fire incident in the crushing plant, once repairs were completed, Coolman Island commenced delivering the benefits of prior investments that we've made in overburden removal, ground support and the crusher upgrade. As noted in our last call in July, the June quarter was a record in terms of high-grade shipments and sales, delivering 17 shipments, which totaled 1.25 million wet metric tonnes in the quarter, double the rate of the prior quarter. Consequently, we beat our revised full-year sales gardens of just over 3 million tonnes and more than trebled sales revenue to just over 452 million free-on-board FOVs. Full year cash flow, after all capital expenditur...