MGX Resources (ASX:MGX), formerly Mount Gibson Iron, has struggled as its iron ore operations wind down. In June 2025, Cromwell Funds Management reported Mount Gibson Iron underperformed over the quarter, with the share price falling 18.2% and detracting from fund performance, influenced by weaker iron ore prices and operational factors at its Koolan Island mine. MGX Resources operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Cromwell Funds Management. MGX Resources, formerly Mount Gibson Iron, is an independent Western Australian miner that has produced iron ore since 2002, primarily from the high-grade Koolan Island hematite mine in the Kimberley, and holds a substantial cash and investment balance that it is seeking to deploy into new projects as Koolan Island approaches the end of its mine life, prompting its rebranding and diversification strategy.