MGX Resources Limited

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MGX Resources Limited (formerly Mount Gibson Iron Limited) is an established Australian miner and project developer, now focused on developing the 2.8 Moz Central Tanami Gold Project in the Northern Territory, of which it owns 50%.

Construction of an exploration decline at the high-grade 1.2 Moz Groundrush gold deposit will commence at the Central Ta...
31/08/2026

Construction of an exploration decline at the high-grade 1.2 Moz Groundrush gold deposit will commence at the Central Tanami Project Joint Venture (CTPJV) in the Northern Territory later this month, following ex*****on of a $38 million construction contract with Macmahon Underground, a subsidiary of listed mining services group Macmahon Holdings.

This represents a a key milestone for MGX and joint venture partner Tanami Gold, which each hold 50% of the CTPJV. The 3.5km decline will provide access for underground infill drilling to convert over 400,000oz of currently inferred Mineral Resources to the higher confidence Indicated category. The decline will take about 14 months to complete to a planned depth of circa 350m below surface, with drilling to commence in the latter stages of the construction period.

Surface works necessary for decline construction, including preparation of laydown areas and re-establishment of the pit access ramp (pictured), are already well underway, with Macmahon preparing to mobilise to to site for commencement of in-pit portal construction activities in September.

Decline commencement comes as work continues on multiple fronts across the CTPJV. Resource definition and extension drilling is continuing at the 220koz Jims Deposit (pictured), while upgrades and repairs are progressing in the accommodation camp, associated site utilities and other infrastructure assets in support of upcoming site activities.

With total Mineral Resources of 2.8 Moz contained gold (31Mt @ 2.8 grams/tonne gold) the CTPJV represents a significant potential development opportunity in a proven and highly productive Australian gold province.

MGX Resources today posted an improved profit before tax and impairments of $29.1 million for FY2026, enabling it to mai...
21/08/2026

MGX Resources today posted an improved profit before tax and impairments of $29.1 million for FY2026, enabling it to maintain strong cash and investment reserves totalling $412 million at year end, underpinning the Company's pivot from iron ore to gold. Net loss after tax reduced by 63% to $30.2 million, reflecting $58.9 million in non-cash impairments to the remaining carrying value of its Koolan Island iron ore mine where mining was suspended after a rockfall in October 2025. The solid underlying result came on the back of its successful low-grade sales program initiated after the rockfall, which fully covered the cost of accelerated rehabilitation and ramp-down activities at Koolan Island. A June agreement to divest the Koolan Island assets to logistics and infrastructure proponent Crestlink will see MGX receive up to $25 million in cash over a five year period and Crestlink assume circa $30 million in rehabilitation obligations remaining at settlement. Completion is targeted for late 2026 and will free MGX to fully focus on advancing the 2.8Moz Central Tanami Gold Project joint venture in the Northern Territory. MGX paid $50 million for a 50% interest in the CTPJV in in February. Full details of the 2026 financial results, and today's investor teleconference are available at www.mgx.com.au

The June Quarter marked the dawn of a new age and the end of an era for MGX Resources. As an emerging presence in the Au...
29/07/2026

The June Quarter marked the dawn of a new age and the end of an era for MGX Resources. As an emerging presence in the Australian gold sector, work accelerated at the advanced 2.8 Moz Central Tanami Project Joint Venture (CTPJV) in the Northern Territory, in which MGX holds a 50% interest. At the same time, the Company’s 22 year-history of continuous iron ore production successfully concluded with the final shipment of low-grade material departing the Koolan Island mine in the Kimberley just after quarter-end in July.

At the CTPJV, one of Australia’s largest and higher-grade undeveloped gold projects, preparations to commence construction of an exploration decline at the 1.2 Moz Groundrush gold deposit were being finalised with work scheduled to get under way in the current September quarter, while resource definition and extension drilling recommenced at the high-potential 220 koz Jims deposit. The CTPJV now holds the mantle of MGX’s flagship asset as the Company looks to deploy its extensive cash and investment reserves, totalling $412 million at period end, in pursuit of its aspiration to become a gold producer within three years.

Meanwhile in the Kimberley, MGX shipped 0.94 million wet metric tonnes of low-grade material from Koolan Island in the June quarter, taking FY26 iron ore sales to 2.68 Mwmt. Subsequent to quarter end, a further four shipments of low-grade were completed to successfully conclude all iron ore sales from the mine. Most significantly, late in the quarter, MGX announced a landmark agreement to divest Koolan Island to specialist logistics group Crestlink for up to $25 million in cash, and the assumption by Crestlink of circa $30 million in rehabilitation obligations expect to remain at settlement, which is targeted for late 2026 subject to satisfaction of various conditions. The transaction is supported by the Dambimangari Traditional Owners and is expected to facilitate a new era for Koolan Island as key regional offshore aviation and logistics hub.

For more information, the June Quarter Activities Report, June Quarter Investor Teleconference, and Noosa Mining Conference Presentation are all available at www.mgx.com.au

MGX Resources is pleased to announce a binding conditional agreement to divest its Koolan Island iron ore operation in t...
11/06/2026

MGX Resources is pleased to announce a binding conditional agreement to divest its Koolan Island iron ore operation in the Kimberley to infrastructure and logistics group Crestlink Koolan Pty Ltd after the expected conclusion of shipments of remaining low-grade ore stockpiles in July. Crestlink, which is supported by a fund affiliated with US infrastructure investor Cerberus Capital Management LP, is seeking to utilise the existing site infrastructure to establish a combined mining, multi-user logistics, aviation and marine support facility. MGX will receive up-front and deferred payments totalling $20.2 million, plus a future revenue share component of up to a further $5 million, in the years following completion of the transaction. Crestlink will also assume remaining rehabilitation obligations at the time of completion, estimated to be approximately $30 million and primarily relating to the eventual removal of key site infrastructure. The transaction is supported by the Dambimangari Traditional Owners of Koolan Island and is a core element in MGX's strategic shift to the precious and base metals sectors, and its near term focus on development of its 50% owned Central Tanami Gold Project in the Northern Territory. For full details, go to www.mgx.com.au

MGX Resources and joint venture partner Tanami Gold took a significant step toward development of the advanced high-grad...
24/04/2026

MGX Resources and joint venture partner Tanami Gold took a significant step toward development of the advanced high-grade Central Tanami Gold Project (CTPJV) this week with the selection of Macmahon Underground Pty Ltd (a subsidiary of Macmahon Holdings Ltd) as Preferred Contractor to develop an underground exploration decline at the high-grade Groundrush gold deposit. The exploration decline is an important component of the CTPJV’s development activities which will facilitate resource infill drilling of the deposit from underground headings and enable early advancement of the decline workings. Macmahon’s scope of work will include portal and vent establishment and approximately 3,500 metres of exploration decline development. Activities are expected to commence in the September 2026 quarter and extend for a 14 month period, with the work valued at approximately $38 million. Underground drilling activities will commence towards the end of this period. The appointment of Macmahon remains subject to finalisation and ex*****on of a binding
agreement. For more information visit www.mgx.com.au

MGX Resources today released its March 2026 Quarterly Activities Report, reporting robust quarter-end cash and investmen...
24/04/2026

MGX Resources today released its March 2026 Quarterly Activities Report, reporting robust quarter-end cash and investment reserves of $414.7 million. The period-end total reflected payment of the $50 million cash consideration for the acquisition of a 50% interest in the Central Tanami Gold Joint Venture, low-grade iron ore sales revenue of $18.3 million Free on Board, Koolan Island rehabilitation spending of $6.6 million and market fluctuations in the value of the Company's equity investments. Low-grade sales from Koolan Island totalled 0.39 million wet metric tonnes averaging 44.2% Fe due to wet-season-related weather interruptions. Shipping is now accelerating and MGX continues to target low grade sales of 1.0 Mwmt in the June half-year. Rehabilitation site-works remain on track for completion in mid-2026. Following completion of the Central Tanami transaction, the 2026 work program will focus on site infrastructure improvements,
commencement of an exploration decline at the main Groundrush deposit, regulatory approvals and permitting, resource definition drilling and engineering reviews of processing plant options. Work on the Groundrush decline is expected to commence in the September 2026 quarter, following the selection of Macmahon Underground as preferred contactor. For full details, go to www.mgx.com.au

Address

Level 2, 2 Kings Park Road
Perth, WA
6005

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Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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