Mindax (MDX) H1 2026 earnings summary

Executive summary

• Focused on progressing the Mt Forrest Iron Project, including securing an option to acquire full ownership and seeking development partners.

• Advanced exploration at Mt Lucky and Meekatharra Gold Projects, with new geological interpretations and drill targeting.

• Issued significant options and shares to directors, employees, and consultants to support corporate and exploration activities.

Financial highlights

• Revenue for the half-year ended 31 December 2025 was $21,740, up from $13,453 year-over-year.

• Net loss after tax was $1,043,429, an improvement from a $1,142,760 loss in the prior year.

• Cash and cash equivalents at period end were $146,176, down from $1,318,901 at 30 June 2025.

• Net cash outflow from operating activities was $1,135,170, higher than the prior period's $654,895.

• Exploration and evaluation assets increased to $27,459,692 from $25,243,861 at 30 June 2025.

Outlook and guidance

• Actively seeking development partners for Mt Forrest Iron Project and advancing infrastructure studies.

• Ongoing review of geological data to support future drilling at gold projects.

• Directors believe the group can continue as a going concern, contingent on successful capital raising.