MGX Resources (MGX) Q4 2026 TU earnings summary

Executive summary

• Completed agreement to divest Koolan Island mine to Crestlink, marking exit from iron ore and transition to precious metals focus, with at least $20.2 million up-front, future revenue share, and transfer of $30 million in rehabilitation obligations.

• Central Tanami Project JV, acquired 50% interest for $50 million, is now the primary focus, with accelerated drilling, infrastructure upgrades, and recruitment.

• Koolan Island low-grade iron ore sales program nearly complete, funding rehabilitation and site ramp-down, with final shipments in July 2026.

• Maintained strong cash and investment reserves of $412.1 million at 30 June 2026, with no bank debt.

• Ongoing engagement with Traditional Owners at both Central Tanami and Koolan Island.

Financial highlights

• Koolan Island generated operating cash flow of $5.8 million in the quarter, reversing prior quarter outflow, and group net cashflow was $3.1 million.

• Koolan Island FY26 iron ore sales totaled 2.68 million wet metric tons, with revenue of $206.4 million, cash operating costs of $132.4 million, and rehabilitation expenditure of $42.0 million.

• Koolan Island sales in the quarter more than doubled sequentially, totaling 944,000 wet metric tons.

• Cash and investment reserves at period end totaled $412.1 million (AUD 0.35/share), with no bank debt.

• Equity investment portfolio valued at approximately $41 million, including stakes in AIC Mines, Maronan Metals, and Fenix Resources.

Outlook and guidance

• Central Tanami Project JV to focus on Groundrush site works, underground decline construction, ongoing drilling, infrastructure improvements, and permitting in the next six months.

• Koolan Island rehabilitation to complete soon; sale to Crestlink expected by end of 2026, with possible extension to March 2027.

• Koolan Island to complete final shipments in July 2026 and transition to care and maintenance pending Crestlink transaction completion.

• Ongoing regional exploration in Northern Territory and Western Australia, with new drilling and survey analysis underway.

• Audited FY26 financial results scheduled for release on 19 August 2026.