Mindax (MDX) Q1 2027 TU earnings summary

Executive summary

• Board renewal and A$3.9m of convertible-note funding commitments support a planned review of business activities and exploration of new opportunities.

• Mt Forrest remained the main active project, with beneficiation test work funded during the Quarter; no mining production or development activities took place.

Financial highlights

• Exploration and evaluation expenditure was A$186,242, predominantly for shire rates, beneficiation test work and tenement management.

• A$250,000 placement issued 10,780,423 ordinary shares at A$0.021–A$0.027 per share; A$100,000 was received in the Quarter and A$150,000 in the June 2026 quarter.

• Cash payments to directors and related parties totalled A$449,460, including salary, fees, consulting, reimbursements and superannuation.

Outlook and guidance

• Planned review of business activities and operations, with exploration of new opportunities to build on the existing portfolio.

• Strategy remains focused on exploring existing projects, pursuing new opportunities and potentially growing holdings through acquisitions and corporate activity.

• Mt Lucky geological interpretation is being reviewed to inform a drilling programme; Mt Forrest beneficiation testing is intended to support future development studies.