Mindax (MDX) H2 2025 earnings summary

Executive summary

• Focused on mineral exploration, project assessment, and securing additional funding during the year ended 30 June 2025.

• Advanced exploration at Mt Lucky and Meekatharra Gold Projects, and progressed the Mt Forrest Iron Project, including a move toward 100% ownership.

• Completed phase two of the Mid-West Shared Infrastructure Project and made strategic investments in Doublebell Resource Wealth and Cashmere Iron.

Financial highlights

• Raised $7.75 million through share placements; year-end cash balance was $1.32 million, up from $0.52 million last year.

• Operating loss before tax was $2.63 million (2024: $2.62 million); basic and diluted loss per share was 0.15 cents (2024: 0.10 cents).

• Total comprehensive loss for the year was $7.81 million, including a $4.68 million impairment on investments.

• Exploration expenditure capitalised at $25.24 million (2024: $25.84 million).

Outlook and guidance

• No significant changes in operations expected; focus remains on maintaining current activity levels and advancing existing projects.

• Additional capital raising and consolidation opportunities under review to support long-term growth.