Mindax (MDX) H2 2026 earnings summary

Executive summary

• FY26 remained focused on mineral exploration, project reviews and funding; no significant change in the nature of operations.

• Auditors issued an unmodified opinion but highlighted material uncertainty that may cast significant doubt on the ability to continue as a going concern.

Financial highlights

• Revenue and other income was $54,842; loss before tax was $2.493m and net loss was $1.701m, versus $3.125m net loss in FY25.

• Income tax benefit was $791,346; total comprehensive loss was $2.027m, including a $325,688 investment fair-value loss in OCI.

• Operating cash outflow was $1.090m and investing cash outflow was $2.087m; cash at year-end was $83,116, down from $1.319m.

• Capitalised exploration and evaluation assets increased to $27.634m from $25.244m; net administration, corporate, depreciation and salary expenditure was $1.797m.

Outlook and guidance

• Expected to maintain the current level of operations; exploration work includes progressing gold drill-target definition and iron project development studies.

• Post-year-end $3.9m convertible-note funding is intended for exploration, tenement commitments and working capital; further capital may be needed to fund ongoing operations.

• Directors cite note funding, recovery of $800,000 from Mingold, potential asset sales or farm-outs, and expected further capital raising as going-concern support; uncertainty remains if funding plans fail.