MGX Resources Limited

MGX Resources Limited MGX Resources Limited (formerly Mount Gibson Iron Limited) is an independent Australian miner and project developer.

Its primary assets are the Koolan Island iron ore mine in WA and a 50% interest in the advanced Central Tanami Gold Project in the NT.

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

What a great day at Langley Park for the annual Clontarf Cup lightning football carnival, which this year showcased the ...
25/03/2026

What a great day at Langley Park for the annual Clontarf Cup lightning football carnival, which this year showcased the the talent, teamwork and mateship of a couple of hundred terrific young men from Clontarf academies stretching from Carnarvon to Esperance. MGX is proud of its 13-year partnership with Clontarf Foundation, which does outstanding work to encourage young indigenous men to complete their education and establish a launchpad for a bright and rewarding future. From a handful of boys at the turn of the century, Clontarf academies now cater for over 12,000 students in 165 schools nationwide, including 1,100 boys in Year 12. A truly remarkable record.

MGX Resources has long understood the value and benefits that come from growing female participation across its business...
12/03/2026

MGX Resources has long understood the value and benefits that come from growing female participation across its business, and this week marked International Women's Day by celebrating the talent, dedication, and hard work of its female employees and contractors at its Koolan Island operation in the Kimberley and the West Perth office. MGX team members - whatever their gender - enthusiastically embraced this year's theme of "Give to Gain" and its simple message of "when people, organizations, and communities give generously, opportunities and support for women increase".

MGX Resources today released its financial results for the December 2025 Half year, well positioned for future growth. P...
19/02/2026

MGX Resources today released its financial results for the December 2025 Half year, well positioned for future growth. Profit before tax and impairments increased 113% to $39.9 million on sales revenue of $147.2 million Free on Board from the sale of 1.35 million wet metric tonnes of low-grade and high grade material. After non-cash accounting impairments totalling $60.3 million to write off the remaining carrying value of Koolan Island following the October 2025 rockfall, MGX reported a net loss after tax and impairments of $20.8 million. Cash and investment reserves grew over the half year to $496.2 million, compared with $484.6 million at the end of June. With no debt and its strong balance sheet, MGX is well placed to deliver future growth and accelerate work on the advanced high-grade Central Tanami Gold Project, in which it completed its acquisition of a 50% interest earlier this month. For details, and to listen to today's investor teleconference, visit www.mgx.com.au

MGX Resources has today completed its acquisition of a 50% interest in the advanced high-grade Central Tanami Gold Proje...
06/02/2026

MGX Resources has today completed its acquisition of a 50% interest in the advanced high-grade Central Tanami Gold Project in the Northern Territory from Northern Star Resources for $50 million. Work in the near term will focus on defining the development plan, securing relevant approvals and accelerating development activities. The Project represents a substantial transformational opportunity for MGX to establish a new long-life Australian gold business in a strongly positive gold price environment. The CTPJV is one of Australia’s highest-grade undeveloped gold projects with current estimated Mineral Resources (per JORC 2012) of 31.0 million tonnes (Mt) grading 2.8 grams per tonne (g/t) gold for approximately 2.8 million ounces (Moz) of contained gold. This includes 11.0 Mt grading 3.3 g/t gold for 1.2 Moz of contained gold within the core Groundrush deposit. For more information, visit www.mgx.com.au

MGX Resources (formerly Mount Gibson Iron) today reported a better than anticipated performance in the December Quarter ...
23/01/2026

MGX Resources (formerly Mount Gibson Iron) today reported a better than anticipated performance in the December Quarter as it responded to the major rockfall which forced the suspension of mining at Koolan Island in October. After refocusing on monetising available low grade stockpiles and rehabilitation work at Koolan Island (pictured), MGX generated free cashflow of $15 million in the quarter from the sale of 0.8 wet metric tonnes of iron ore to generate revenue of $71 million Free on Board. Sales comprised 0.3 Mwmt of high grade ore averaging 62.6% Fe and 0.5 Mwmt of low-grade material averaging 49.6% Fe. Costs halved to $57 per wet metric tonne of ore sold, while total cash and investment reserves increased to $497 million, equivalent to $0.42/ share. MGX is now targeting additional low-grade sales of approximately 1.0 Mwmt (42-45% Fe) in the June half-year, after which all low grade stocks will be depleted. MGX also reported substantial progress toward completion of its $50 million acquisition of a 50% stake in the high-grade Central Tanami Gold Project in the Northern Territory. In November, total Mineral Resources for the project were increased to 2.8 million ounces of contained gold while in December, the transaction was approved by the Foreign Investment Review Board. MGX aims to complete the transaction ahead of the 31 March deadline. For more information, visit www.mgx.com.au

MGX Resources Limited (formerly Mount Gibson Iron) is pleased to advise that Australia’s Foreign Investment Review Boar...
03/12/2025

MGX Resources Limited (formerly Mount Gibson Iron) is pleased to advise that Australia’s Foreign Investment Review Board (FIRB) has approved the Company’s $50 million acquisition of a 50% interest in the advanced Central Tanami Gold Project Joint Venture (CTPJV) in the Northern Territory from Northern Star Resources.

Final completion of the transaction now remains subject only to the CTPJV securing an extension of existing infrastructure arrangements on one tenement from the Traditional Owner representative body, the Central Land Council. MGX is encouraged by the positive nature of engagement with the Central Land Council to
date and anticipates being in a position to complete the transaction ahead of the contractual deadline of 31 March 2026.

MGX Chief Executive Officer Peter Kerr said: “We are pleased to have received FIRB approval for the proposed 50% acquisition of the Central Tanami Gold Project as this represents a compelling opportunity to establish MGX as a long-life Australian gold producer. We look forward to completing the transaction in the near future and getting to work with (CTPJV partner) Tanami Gold to accelerate the project to a development decision within the next 12-18 months.”

For more information go to www.mgx.com.au

Mount Gibson Iron has today provided an update on its Koolan Island operation in the wake of a significant rockfall last...
24/10/2025

Mount Gibson Iron has today provided an update on its Koolan Island operation in the wake of a significant rockfall last week. Following intensive assessment including input from external geotechnical specialists, the Company has determined that remediating the rockfall-affected area and resuming mining is not viable given the safety risks of potential future instability and the time and investment required to mitigate such risks, especially in the context of the operation’s limited remaining mine life. Prior to the rockfall, production from Koolan Island was scheduled to conclude around September 2026. Mining will remain suspended and processing operations will continue for the time being given the availability of ore stockpiles to meet near-term scheduled shipments as well as the potential for additional sales from lower grade stocks previously retained for blending purposes. Additionally, the Company will accelerate progressive rehabilitation activities. For more information, visit www.mtgibsoniron.com.au

Address

Level 2, 2 Kings Park Road
Perth, WA
6005

Opening Hours

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

Telephone

+61894267500

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