Mount Gibson Iron Limited (ASX:MGX) is looking for acquisition opportunities. Peter Kerr, Chief Executive Officer said, "We've also significantly increased new project generation activities, site visits and discussions with a number of third parties regarding additional exploration and resource development opportunities. We continue to pursue acquisition opportunities in the bulk commodities and base metals sectors in Australia and equity positions with a combined market value of approximately $5 million are held in a small number of junior resource development companies where it's considered that future financing or importantly, strategic opportunities may arise".