Magnetic Resources (MAU) H1 2026 earnings summary

Executive summary

• Advanced development of the Lady Julie Gold Project (LJGP) in Western Australia, focusing on feasibility, permitting, and resource expansion programs.

• Completed a Feasibility Study for LJGP in July 2025, outlining technical and economic parameters for an open pit gold operation.

• Key mining leases for Lady Julie North 4, Lady Julie Central, and Hawks Nest 9 were granted in September 2025.

• Raised A$35 million in August 2025 to fund exploration, feasibility, and project development.

• Entered into a binding Scheme Implementation Deed with Genesis Minerals Limited in February 2026 for a proposed acquisition valued at A$639 million.

Financial highlights

• Reported total income of $408,420 for the half-year ended 31 December 2025, compared to $66,649 in the prior period.

• Total expenses decreased to $5,362,028 from $7,636,408 year-over-year.

• Net loss after tax was $4,953,608, an improvement from a $7,569,759 loss in the previous year.

• Basic and diluted loss per share improved to (1.73) cents from (2.65) cents year-over-year.

• Cash and cash equivalents at period end were $35,402,516, up from $7,915,649 at 30 June 2025.

Outlook and guidance

• The proposed acquisition by Genesis Minerals is expected to be implemented during the 2026 financial year, subject to approvals.

• Updated Mineral Resource Estimate for LJGP announced in January 2026: 2.2 million ounces of gold at 1.8 g/t Au.