Mindax (MDX) Q3 2026 TU earnings summary

Executive summary

• Maintained engagement with stakeholders to advance the Mid-West Shared Infrastructure Project for iron ore transport and export.

• Continued capital raising through placements to fund project momentum, with further placements expected.

• Advanced metallurgical test work for the Mt Forrest Iron Project and sought development partners to increase project ownership to 100%.

• Progressed gold exploration at Mt Lucky and Meekatharra North, utilizing advanced geological and AI-assisted techniques to refine drill targets.

• Invested in Doublebell Resource Wealth and Cashmere Iron Limited to support regional project synergies.

Financial highlights

• Raised A$0.13 million from share placements and received a further A$0.05 million, with additional shares to be issued.

• Exploration and evaluation expenditure for the quarter was A$167,653, mainly for tenement rates and rents.

• Net cash used in operating activities was A$60,000 for the quarter and A$901,000 for the nine months.

• Net cash used in investing activities was A$168,000 for the quarter and A$2,224,000 for the nine months.

• Net cash from financing activities was A$176,000 for the quarter and A$1,900,000 for the nine months.

• Cash and cash equivalents at quarter end were A$94,000.

Outlook and guidance

• Plans to undertake further capital raisings and manage exploration activities in line with available funding.

• Confident in ability to continue operations and meet objectives, with discretionary exploration expenditure and ongoing funding initiatives.