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Sales guidance for FY26 was withdrawn after the Koolan Island rockfall.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