MGX Resources
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MGX Resources (MGX) investor relations material

MGX Resources H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for MGX Resources Limited
H1 2026 earnings summary19 Feb, 2026

Executive summary

  • Recorded steady underlying financial performance for the December 2025 half year despite the October rockfall at Koolan Island, which led to significant non-cash impairments and operational changes, resulting in a net loss after tax of $20.8M, a significant improvement from a $71.7M loss in the prior period.

  • Extended low-grade sales program at Koolan Island exceeded expectations, helping offset the financial impact of the rockfall.

  • Completed a $50 million acquisition of a 50% interest in the Central Tanami Gold Project, marking entry into the gold sector and positioning for accelerated development.

  • Company name changed to MGX Resources Limited in December 2025, reflecting a strategic shift towards broader mineral resources.

Financial highlights

  • Profit before tax and impairments rose 113% to AUD 39.9 million on sales revenue of AUD 147.2 million and other income of just over AUD 10 million, compared to the same period last year.

  • Non-cash impairments of just over AUD 60 million resulted in a net loss after tax of AUD 20.8 million for the half year, a significant improvement from a $71.7M loss in the prior period.

  • Cash and investment reserves were $456.2M at 31 Dec 2025, with cash flow generated of $10.4 million for the half year.

  • Total sales were 1.35 million wet metric tons, slightly above the prior corresponding half, with sales revenue only 9% lower year-over-year.

  • Unit cash operating costs reduced to AUD 79 per ton, down from AUD 96 per ton year-over-year.

Outlook and guidance

  • Targeting sale of approximately 1 million tons of remaining low-grade material in the current June half year, after which stockpiles will be depleted.

  • Focus on advancing the Central Tanami Gold Project with more details on work streams and development schedule to be provided in coming months.

  • Rehabilitation activities at Koolan Island expected to be completed by mid-2026.

  • Sales guidance for FY26 was withdrawn after the Koolan Island rockfall.

Beyond strip ratio, what cost efficiencies?
Share buyback program reevaluation criteria?
Central Tanami development decision timeline?
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Mount Gibson Iron Limited is an Australian mining company focused on the exploration, extraction, and sale of iron ore. The company operates iron ore mines primarily in Western Australia, supplying iron ore to both domestic and international steel producers. Its activities encompass mining, processing, and shipping of iron ore products, including lump and fines. Mount Gibson Iron is involved in ongoing exploration to expand its resource base and sustain long-term production. The company is headquartered in Perth, Australia, and its shares are listed on the ASX.

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