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MGX Resources Limited (ASX:MGX)

ALERT: Price-sensitive ASX Announcement for MGX
Current share price for MGX : $0.330 -0.115 (-25.84%)+
Announcement
Release
19 Feb 2026 8:06AM
Price at Release
$0.445
Full Release
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Summary
MGX Resources Limited reported its half-year financial results for the period ending 31 December 2025. The financial performance was impacted by a significant rockfall incident at Koolan Island, resulting in a substantial impairment expense of $60.3 million. Despite this, the company's revenue from ordinary activities decreased by 8% to $156 million, while the net loss after tax attributable to shareholders improved by 71% to $20.8 million. The company's strategic focus includes completing low-grade sales, cost reductions, and exploring growth opportunities through acquisitions like the Central Tanami Project Joint Venture. No interim dividend was declared for the half-year.
Key Points
  • Significant rockfall incident at Koolan Island impacting operations.
  • Impairment expense of $60.3 million recorded.
  • Revenue decreased by 8% to $156 million.
  • Net loss after tax improved by 71% to $20.8 million.
  • No interim dividend declared for the period.
  • Focus on completing low-grade sales and cost reductions.
  • Acquisition of a 50% interest in the Central Tanami Project Joint Venture.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.