Mount Gibson cash pile swells to A$400m

Iron-ore miner Mount Gibson’s cash balance of A$400-million at the end of June has placed the company in a strong position to progress its Extension Hill project and to mull over redevelopment alternatives at Koolan Island, while continuing its pursuit of other resources investments. The cash balance, which grew from A$345-million at the end of March, includes A$49.6-million from a A$86-million insurance settlement relating to the Main Pit seawall failure at Koolan Island in 2014.