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MGX Resources Limited (ASX:MGX)

ALERT: Price-sensitive ASX Announcement for MGX
Current share price for MGX : $0.345 -0.035 (-9.21%)+
Announcement
Release
24 Apr 2026 8:11AM
Price at Release
$0.380
Full Release
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Summary
The March 2026 Quarterly Activities Report for MGX Resources Limited highlights several key operational and corporate developments. MGX successfully completed its acquisition of a 50% stake in the Central Tanami Project Joint Venture, marking a significant step in establishing a gold production business alongside its partner Tanami Gold. The report details progress on the Koolan Island operation, which is focused on selling low-grade iron ore stockpiles to fund site rehabilitation efforts following a rockfall in October 2025. Despite weather-related interruptions, MGX expects to increase shipment volumes following the end of the wet season. The report also indicates that MGX maintains substantial cash reserves, allowing it to pursue new investment opportunities. Safety performance remains strong with zero lost time injuries reported for the quarter.
Key Points
  • MGX completed the acquisition of a 50% interest in the Central Tanami Project Joint Venture.
  • Low-grade iron ore sales at Koolan Island are funding site rehabilitation.
  • MGX expects increased shipment volumes post-wet season.
  • Strong cash reserves support new investment opportunities.
  • Zero lost time injuries reported, highlighting strong safety performance.
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.