Mindax (MDX) H2 2026 earnings summary

Executive summary

• FY26 activity centered on advancing gold exploration targets, evaluating Mt Forrest iron development, progressing shared infrastructure pathways and securing funding.

• Mt Forrest’s option to acquire Norton’s 35% Yilgiron interest would lift ownership from 65% to 100%; exercise is subject to approvals and financing.

Financial highlights

• FY26 net loss was $1.701m vs $3.125m in FY25; loss before tax was $2.493m vs $2.629m.

• Revenue and other income included $23,628 interest and $27,326 gain on disposal; total comprehensive loss was $2.027m vs $7.810m in FY25.

• Exploration and evaluation assets rose to $27.634m from $25.244m; capitalised FY26 exploration expenditure was $2.390m.

• Cash at year-end was $83,116 vs $1.319m; operating cash outflow was $1.090m and investing cash outflow was $2.087m.

Outlook and guidance

• Mt Lucky targeting work is directed toward preparing a targeted drilling programme; structural and mineralogical interpretation at Meekatharra is intended to identify priority drill targets.

• Metallurgical testing of representative MF1 and MF2 ore samples is intended to support future Mt Forrest development studies; partner engagement continues.

• Outlook depends on further funding: post-year-end convertible notes total $3.9m for exploration, tenement commitments and working capital, with the L & Y note subject to FIRB approval.