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MGX
ASX
MGX Resources Limited (formerly Mount Gibson Iron Limited)
v8.1 · mgx-20261104t223124-full- Last 2026-11-06
- A$0.29
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$342.3M
- EV
- A$1.2M
- Cash
- A$332.2M
- Debt
- A$0
Investment view
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Investment view
Our rating, thesis and what the price implies are available to subscribers.
Sign in or enter a guest codeAnnouncements
Latest 12 of 12All sources ▸- Quarterly Activities Report, September 2026 quarterResults
- Annual Report 2026 (year to 30 June 2026)Results
- Notice of Annual General Meeting and proxy form, 2026Governance
- Mineral Resources Statement as at 30 June 2026Resource Update
- MGX Mining the Territory Conference Presentation, September 2026Presentation
- Quarterly Activities Report, June 2026 quarterResults
- Ceasing to be a substantial holder (May 2026)Governance
- Appendix 3C Final buy-back notice (February 2026)Corporate Action
- FIRB approval, 50% interest in Central Tanami Gold ProjectPermitting
- Appendix 3C Final buy-back notice (November 2025)Corporate Action
- Annual Report 2025 (year to 30 June 2025)Results
- Agreement to acquire 50% of the Central Tanami Gold Project (acquisition announcement and technical report)Transaction
Event calendar · next 12 months
5 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| within 12 months of 29 October 2026 | CTPJV development decision (company target within 12 months) | Study | Company Guided | High | A development plan, capex and funding case would replace the resource-calibration value with a cash-flow valuation. |
| November 2026 to late 2027 | Groundrush decline construction and underground infill drilling (14-month programme from September 2026) | Construction Or Commissioning | Company Guided | High | Decline progress and underground drilling set up the conversion of over 400 koz Inferred resources. |
| December quarter 2026 | Jims and Groundrush RC assay results release (December quarter) | Exploration | Company Guided | Medium | Results feed the Mineral Resource update and the metallurgy-based plant design. |
| late 2026 to 31 March 2027 | Crestlink Koolan settlement (completion targeted late 2026; longstop 31 March 2027) | Transaction | Company Guided | High | Settlement releases up to A$5.2m at completion and transfers about A$30m rehabilitation to the buyer; clears the way for a cash-only MGX. |
| 18 November 2026 | 2026 Annual General Meeting, Perth | Governance | Confirmed | Medium | Resolutions and voting arrangements in the notice of meeting. |
Executive roster
As of 2026-10-16Background checks ▸Key management personnel named in the FY26 annual report (CEO, CFO and company secretary). No other executives or operations managers are disclosed in the documents read.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Peter Kerr | Chief Executive Officer | Chief Executive | — | Annual Report 2026 (year to 30 June 2026) |
| Gillian Dobson | Chief Financial Officer | Finance | — | Annual Report 2026 (year to 30 June 2026) |
| David Stokes | Company Secretary and General Counsel | Company Secretary · Commercial | 2012-04-02 | Annual Report 2026 (year to 30 June 2026) |
devCoverage status: Partial
Portfolio detail
Assets
Core asset
Central Tanami Project Joint Venture (50%, with Tanami Gold NL)
AU
Resource Stage50% ownedGold
Acquired from Northern Star for A$50m cash (completed 5 February 2026). Groundrush decline under construction; resource definition and metallurgy under way; development decision targeted within 12 months of 29 October 2026.
- Contained metal (attributable)
- 1.4m ozd
- Resource grade
- 2.80 g/t
- % Measured + Indicated
- 51.3%d
- Resource tonnes
- 31.00 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- open pit and underground
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 1.3M t | 0.8 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | indicated | 15M t | 2.8 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | inferred | 14M t | 3.1 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | total | 31M t | 2.8 g/t Au | Gold | 2026-06-30 |
Tenements2
Milestones2
- Groundrush exploration decline completion (3.5 km, about 14 months from September 2026)
Pending · High materiality
- CTPJV development decision (company target within 12 months)
Pending · High materiality
Material
Koolan Island iron ore operation (sale to Crestlink pending)
AU
Care And Maintenance100% ownedIron Ore
Mining ceased after the October 2025 Main Pit rockfall. Low-grade stockpile shipments finished in July 2026; rehabilitation largely complete; sale to Crestlink conditional (FIRB and ACCC approvals received), completion targeted late 2026 with longstop 31 March 2027.
- Nameplate capacity
- —
- Restart capex
- —
- Contained metal (attributable)
- 3.3m td
- Last production year
- 2026 (final low-grade shipments, July 2026)
- Target restart
- —
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | indicated | 2.1M t | 59.9% Fe | Iron Ore | 2026-06-30 |
| Mineral Resource | inferred | 1.2M t | 58.2% Fe | Iron Ore | 2026-06-30 |
| Mineral Resource | total | 3.3M t | 59.3% Fe | Iron Ore | 2026-06-30 |
Milestones1
- Crestlink settlement and transfer of rehabilitation obligations
Pending · High materiality
Other
Central Tanami wholly owned regional exploration tenure
AU
Early Explorer100% ownedGold
About 3,600 sq km acquired with the CTPJV; regional geological model under review; no drilled resource.
- Ownership
- 100%
- Commodity
- Aur
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
Other
Western Australia Mid-West and Edmund Basin exploration
AU
Early Explorer100% ownedGold
Early exploration; about 1,650 sq km in the Edmund Basin; a A$180k WA government Exploration Incentive Scheme commitment was received for one drilling location.
- Ownership
- 100%d
- Commodity
- Aur
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Stock database
Other assets
- Investee
- AIC Mines Limited
- Holding
- 3.8%
- Shares held
- —
- Market value
- —
- % of holder's market cap
- —
- Cost basis
- —
- Investee
- Fenix Resources Limited
- Holding
- 9.4%
- Shares held
- —
- Market value
- —
- % of holder's market cap
- —
- Cost basis
- —
- Investee
- Maronan Metals Limited
- Holding
- 4.6%
- Shares held
- —
- Market value
- —
- % of holder's market cap
- —
- Cost basis
- —
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
No bank borrowings; liabilities are leases of A$0.6m and rehabilitation provisions of A$45.7m, of which about A$30m transfers to Crestlink at completion. Cash and investment reserves were A$408.7m at 30 September 2026. Performance bonding facility of A$20m has A$7.6m unused and expired 30 September 2026 per the note; renewal status is not disclosed.
Inventory composition4
Koolan inventories carried at A$5.0m at 30 June 2026. Listed holdings are strategic investments with September 2026 market values; the A$67.0m portfolio total is the quarter-end figure reported by MGX.
- Koolan Island inventories at 30 June 2026 (ore, stockpiles and consumables, carrying value)
- A$5M carrying · 1 lot
- Fenix Resources 9.4% holding (strategic, market value at 30 September 2026)
- — carrying · 9.4 percent
- AIC Mines 3.8% holding (strategic, market value at 30 September 2026)
- — carrying · 3.8 percent
- Maronan Metals 4.6% holding (strategic, market value at 30 September 2026)
- — carrying · 4.6 percent
Capital structure
Ownership and dilution
- Ordinary shares
- 1.2B
- Fully diluted
- 1.2B
Total shares on issue 1,179,551,935 at 30 June 2025 (incl. 12,837,000 loan share plan and 1,265,300 treasury); no FY26 buy-back; 1,180,428,735 at 30 June 2026 (incl. 14,979,100 loan share plan); unchanged at 10 September 2026. Fully diluted equals basic because no options or performance rights are on issue.
Security classes2
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Loan share plan restricted shares included in total shares on issue (12,916,000 at the report date) | Ordinary Share | 12.9M | — | — |
| Options and performance rights on issue: none at 30 June 2026 or at the report date | Option | 0 | — | — |
KPI history
Operating metrics
Operating metric source table7
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Koolan Island iron ore sales, low-grade (kwmt) | Koolan | September 2026 quarter | Quarter | 319 kwmt | Reported |
| Koolan Island iron ore sales, total (kwmt) | Koolan | June 2026 quarter | Quarter | 944 kwmt | Reported |
| Koolan cash operating cost per wet tonne sold | Koolan | September 2026 quarter | Quarter | 28 AUD/wmt | Reported |
| Koolan rehabilitation expenditure in quarter | Koolan | September 2026 quarter | Quarter | 7.7 AUD million | Reported |
| MGX 50% share of CTPJV expenditure | Central Tanami | September 2026 quarter | Quarter | 14.7 AUD million | Reported |
| Cash and investment reserves (incl. equity holdings) | Company | 30 September 2026 | Point In Time | 408.7 AUD million | Reported |
| Cash and investment reserves (cash, term deposits, listed and other investments) | Company | 30 June 2026 | Point In Time | 412.1 AUD million | Reported |
Company guidance3
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Ctpjv Development Decision | central-tanami | within 12 months of 29 October 2026 | — | — date | Current |
| Plant Throughput (Subject To Testwork) | central-tanami | future development plan | — | 1.5 Mtpa | Current |
| Crestlink Settlement Completion | koolan | late 2026 with longstop 31 March 2027 | — | — date | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2024-08-21 | BuybackOrdinary Share | A$12.2M | 38.8M | A$0.313 | Completed | On-market buy-back of up to 10% of issued shares; cumulative 38,803,598 shares bought back (3%) at an average A$0.313. No buy-back transactions in FY26; final Appendix 3C lodged November 2025.Period 2024-08-21 to 2025-11-13 |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Live arrangements from the CTPJV joint venture, the Koolan divestment, the Macmahon decline contract and minority holdings in the FY26 annual report and September 2026 quarterly; the expired Koolan iron ore sale to APAC is listed for completeness.
MGX holds 50% of the CTPJV and funds half its programme, including the Groundrush decline. Tanami Gold holds a right of first refusal (non-exercised at completion).
Joint Venture · Active- Counterparties
- Tanami Gold NL
- Applies to
- Central Tanami Project Joint Venture (50%, with Tanami Gold NL) · Gold
- Economic direction
- Mixed
- Period
- From 2026-02-05; no end date stated
- Key terms
- MGX interest: 50 %
Funding: 50 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Sale of Aztec Resources (Koolan Island) on a cash and debt free basis for at least A$20.2m deferred and up-front payments and a capped revenue share; buyer assumes remaining rehabilitation. Conditions: FIRB and ACCC (received per the September 2026 quarterly), completion of MGX rehabilitation tasks. Guarantee of A$2m bank guarantee from buyer.
Other · Conditional- Counterparties
- Crestlink Koolan Pty Ltd
- Applies to
- Koolan Island iron ore operation (sale to Crestlink pending) · Iron Ore
- Economic direction
- Benefit
- Period
- 2026-06-11 to 2027-03-31
- Key terms
- Tranche 1 cash on completion: 5.2 AUD million
Tranche 2 cash: 5 AUD million
Tranche 3 cash: 10 AUD million
Revenue share: 1.5 % of gross revenue
Rehabilitation assumed by buyer: 30 AUD million
How it affects our valuation
No valuation treatment is available for this arrangement.
CTPJV contract for Groundrush decline construction. Treated as pre-decision spend in the CTPJV funding claim, not in project value, to avoid double counting.
Other · Active- Counterparties
- Macmahon Underground Pty Ltd
- Applies to
- Central Tanami Project Joint Venture (50%, with Tanami Gold NL) · Gold
- Economic direction
- Burden
- Period
- From 2026-08-31; no end date stated
- Key terms
- Contract value (100%): 38 AUD million
Duration: 14 months
How it affects our valuation
No valuation treatment is available for this arrangement.
Minority listed holding carried in the equity bridge at market value less a haircut. Options are not valued separately.
Other · Active- Counterparties
- Fenix Resources Limited
- Applies to
- Company-wide · Iron Ore
- Economic direction
- Benefit
- Period
- Through 2028-07-21; start date not stated
- Key terms
- Equity holding: 9.4 %
Options: 12,500,000 options
Market value: 18.7 AUD million
How it affects our valuation
No valuation treatment is available for this arrangement.
Minority listed copper producer holding carried in the equity bridge at market value less a haircut.
Other · Active- Counterparties
- AIC Mines Limited
- Applies to
- Company-wide · Copper
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Equity holding: 3.8 %
Market value: 34.6 AUD million
How it affects our valuation
No valuation treatment is available for this arrangement.
Minority holding in a silver and base metals developer carried in the equity bridge at market value less a haircut.
Other · Active- Counterparties
- Maronan Metals Limited
- Applies to
- Company-wide · Silver · Zinc
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Equity holding: 4.6 %
Market value: 6.1 AUD million
How it affects our valuation
No valuation treatment is available for this arrangement.
Historical sales agreement for 20% of Koolan available mined iron ore to APAC Resources; not live after mining ceased.
Offtake · Expired- Counterparties
- APAC Resources Limited
- Applies to
- Koolan Island iron ore operation (sale to Crestlink pending) · Iron Ore
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Share of Koolan mined iron ore sold: 20 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The reviewed evidence documents selected career records and company outcomes, with material adverse and delivery evidence retained at company level. Personal attribution is limited; several individual histories and qualifications remain incomplete. Open-web results do not constitute exhaustive personal clearance.
Decision-relevant facts
Material summary
Peter Kerr
Chief Executive Officer
FailureIssuer Reported · Medium materiality
Koolan Island Main Pit rockfall led to suspension of mining
On 16 October 2025 a major rockfall occurred on the eastern footwall at Koolan Island. MGX reported no injuries after monitoring systems gave warning, but said mining was suspended; remediation was not viable against future stability risks, time, cost and remaining mine life. It withdrew guidance and estimated closure/transition costs at A$30–40 million. FY2025 had already seen lower operating cash flow and a A$90.4 million impairment, before the later rockfall.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Koolan Island Operations Update · Koolan Island Operations Update, paragraphs “Rockfall Event” and “Operational Implications”; FY2025 Annual Report, operating/cash flow and impairment disclosures.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Gillian Dobson
Chief Financial Officer
FailureIssuer Reported · Medium materiality
Koolan Island Main Pit rockfall led to suspension of mining
On 16 October 2025 a major rockfall occurred on the eastern footwall at Koolan Island. MGX reported no injuries after monitoring systems gave warning, but said mining was suspended; remediation was not viable against future stability risks, time, cost and remaining mine life. It withdrew guidance and estimated closure/transition costs at A$30–40 million. FY2025 had already seen lower operating cash flow and a A$90.4 million impairment, before the later rockfall.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Koolan Island Operations Update · Koolan Island Operations Update, paragraphs “Rockfall Event” and “Operational Implications”; FY2025 Annual Report, operating/cash flow and impairment disclosures.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
David Stokes
Company Secretary & General Counsel
FailureIssuer Reported · Medium materiality
Koolan Island Main Pit rockfall led to suspension of mining
On 16 October 2025 a major rockfall occurred on the eastern footwall at Koolan Island. MGX reported no injuries after monitoring systems gave warning, but said mining was suspended; remediation was not viable against future stability risks, time, cost and remaining mine life. It withdrew guidance and estimated closure/transition costs at A$30–40 million. FY2025 had already seen lower operating cash flow and a A$90.4 million impairment, before the later rockfall.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Koolan Island Operations Update · Koolan Island Operations Update, paragraphs “Rockfall Event” and “Operational Implications”; FY2025 Annual Report, operating/cash flow and impairment disclosures.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
David Rayfield
General Manager - Koolan Island Operations
FailureIssuer Reported · Medium materiality
Koolan Island Main Pit rockfall led to suspension of mining
On 16 October 2025 a major rockfall occurred on the eastern footwall at Koolan Island. MGX reported no injuries after monitoring systems gave warning, but said mining was suspended; remediation was not viable against future stability risks, time, cost and remaining mine life. It withdrew guidance and estimated closure/transition costs at A$30–40 million. FY2025 had already seen lower operating cash flow and a A$90.4 million impairment, before the later rockfall.
Role overlaps event; causation unproven · The cited record establishes a company or employer event. For role_overlap, the executive held a relevant role in the period, but the reviewed source does not establish personal causation or an individual enforcement finding. For employer_only, no individual link or matching tenure was established.
Koolan Island Operations Update · Koolan Island Operations Update, paragraphs “Rockfall Event” and “Operational Implications”; FY2025 Annual Report, operating/cash flow and impairment disclosures.
Evidence gaps · 3
- Individual contribution to company outcomes was not established.
- The combined name-based web searches were not exhaustive checks of court, criminal, sanctions, credential, or regulator databases; no clearance conclusion is possible.
- Complete prior-employer dates, qualifications and individual contributions were not independently verified from primary sources for this executive.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2025-09-08 · 1,180,428,735 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 18.66% | 220,257,802 | |
| 2 | 17.78% | 209,867,038 | |
| 3 | 13.88% | 163,866,874 | |
| 4 | 9.75% | 115,046,428 | |
| 5 | 7.65% | 90,300,152 | |
| 6 | 4.08% | 48,142,193 | |
| 7 | 2.36% | 27,891,539 | |
| 8 | 1.64% | 19,354,888 | |
| 9 | 1.27% | 14,991,697 | |
| 10 | 0.90% | 10,591,533 | |
| 11 | 0.69% | 8,181,403 | |
| 12 | 0.36% | 4,240,200 | |
| 13 | 0.36% | 4,238,835 | |
| 14 | 0.34% | 4,013,522 | |
| 15 | 0.32% | 3,815,576 | |
| 16 | 0.31% | 3,702,368 | |
| 17 | 0.28% | 3,300,000 | |
| 18 | 0.25% | 2,940,684 | |
| 19 | 0.24% | 2,870,247 | |
| 20 | 0.23% | 2,757,262 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The account register is more than one year old; subsequent capital events may have changed balances and rankings. A June 2025 substantial-holder notice was located, but its text was not extractable from the cached PDF, so no additional position is asserted from it.
Sources
- Annual Report 2025 — Twenty largest holders
Mount Gibson Iron Limited / ASX · Published 2025-10-10 · Accessed 2026-10-09
Complete registered ordinary-share table. Top 20 sum to 960,370,241 (81.36%).
PDF p. 100, table of twenty largest holders as at 8 September 2025; total issued ordinary shares 1,180,428,735
Disclosed activity
Insider transactions
Trading activity3 buys · 1 sell shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2025-10-27 | Paul DougasNorase Pty Ltd ATF Dougas Family Super
Details & evidence for Paul Dougas on 2025-10-27The notice also reports a separate 220,000-share Dougas Family Trust position unchanged by this transaction. As disclosed: On market; 30,002 shares acquired at $0.34 per share.
director · Start not disclosed director · Start not disclosed Norase Pty Ltd ATF Dougas Family Super · Beneficiary of the Dougas Family Super; Norase Pty Ltd is named as trustee/registered holder Dougas Pty Ltd ATF the Dougas Family Trust · Indirect relevant interest in shares held by Dougas Pty Ltd ATF the Dougas Family Trust Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 30,002 | — | AUD 0.34Disclosed price | 606,604 |
| 2025-10-27 | Brett Smith
Details & evidence for Brett Smith on 2025-10-27As disclosed: On market trade; 170,000 shares acquired at $0.35 per share.
director · Start not disclosed director · Start not disclosed Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 170,000 | — | AUD 0.35Disclosed price | 170,000 |
| 2024-10-28 | Evian Delfabbro
Details & evidence for Evian Delfabbro on 2024-10-28As disclosed: On market trade; 62,998 shares acquired at $0.3175 per share.
director · Start not disclosed director · Start not disclosed Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 62,998 | — | AUD 0.3175Disclosed price | 62,998 |
| 2023-02-23 | Alan Jones
Details & evidence for Alan Jones on 2023-02-23As disclosed: On market trade; 300,000 shares disposed at $0.5669 per share.
director · Start not disclosed director · Start not disclosed Change of Director's Interest Notice ↗ | SaleFully paid ordinary shares | 300,000 | — | AUD 0.5669Disclosed price | 0 |
Disclosed holding observations6 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2025-08-19 | Alan Jones
Details & evidence for Alan Jones on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed director · Start not disclosed Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 0 | — |
| 2025-08-19 | Brett Smith
Details & evidence for Brett Smith on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed director · Start not disclosed Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 0 | — |
| 2025-08-19 | Evian Delfabbro
Details & evidence for Evian Delfabbro on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed director · Start not disclosed Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 62,998 | — |
| 2025-08-19 | Paul Dougas
Details & evidence for Paul Dougas on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed director · Start not disclosed Norase Pty Ltd ATF Dougas Family Super · Beneficiary of the Dougas Family Super; Norase Pty Ltd is named as trustee/registered holder Dougas Pty Ltd ATF the Dougas Family Trust · Indirect relevant interest in shares held by Dougas Pty Ltd ATF the Dougas Family Trust Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 796,602 | — |
| 2025-08-19 | Raymond Ding
Details & evidence for Raymond Ding on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 0 | — |
| 2025-08-19 | Stephen Bird
Details & evidence for Stephen Bird on 2025-08-19The 2025 annual report states director share interests as at the report date; report signed 19 Aug 2025.
director · Start not disclosed Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 51,899 | — |
The closest covered peers
Peer comparison
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Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory28 documents
Reference close, MGX ASX ordinary share, 4 November 2026Market Data · HighExtracted
Latest eligible local ASX close on or before the cutoff, market data provider via miners.collect_stock_prices: A$0.285, volume 388,956, one ordinary share basis.
- Document ID
- price-ref-20261104
- Published UTC
- 2026-11-04T05:00:00Z
- Projects
- —
- Commodities
- —
Gold spot and trailing averages, market data provider gold futures, 3 November 2026Commodity Data · HighExtracted
Gold spot US$3,940/oz on 3 November 2026; 1-year average US$4,452/oz, 3-year average US$3,314/oz, 5-year average US$2,730/oz; AUD per USD 1.4236 (market snapshot).
- Document ID
- gold-spot-20261103
- Published UTC
- 2026-11-03T09:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Report, September 2026 quarterResults · HighExtracted
September 2026 quarter: group net cash outflow A$5.1m; cash and investment reserves A$408.7m (A$412.1m at 30 June 2026); no bank borrowings; CTPJV spend A$14.7m (MGX share); Koolan low-grade shipments complete, Crestlink settlement targeted late 2026 or early 2027; Groundrush decline under way; equity portfolio about A$67.0m.
- Document ID
- q-sep26
- Published UTC
- 2026-10-28T21:03:59Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
CIBC gold price forecast revision (20 October 2026)Commodity Data · MediumMetadata Only
CIBC cut its 2027 average gold forecast to US$5,200/oz (from US$6,500) and sees US$5,500/oz for 2028. Secondary summaries show HSBC 2027 at US$4,925/oz and RBC at US$5,250/oz; used only as an external check on the long-run deck. Summary from search result text only; no page read.
- Document ID
- cibc-gold-oct26
- Published UTC
- 2026-10-20T00:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Annual Report 2026 (year to 30 June 2026)Results · HighExtracted
FY26 audited annual report: revenue A$204.0m, net loss after tax A$30.2m after A$58.9m impairments, operating cash flow negative A$20.6m, no dividends, 1,180,428,735 shares on issue at 30 June 2026, cash and term deposits A$332.2m, no bank borrowings, Koolan Island divestment and CTPJV 50% interest, top-20 register at 10 September 2026, board and executives.
- Document ID
- ar-fy26
- Published UTC
- 2026-10-15T21:23:12Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
Notice of Annual General Meeting and proxy form, 2026Governance · LowExtracted
AGM to be held 18 November 2026 at 10:30am AWST, Perth.
- Document ID
- agm-notice-oct26
- Published UTC
- 2026-10-15T21:23:07Z
- Projects
- —
- Commodities
- —
Mineral Resources Statement as at 30 June 2026Resource Update · HighExtracted
Annual statement of Mineral Resources: CTPJV gold Mineral Resources 31.0 Mt at 2.8 g/t for 2.8 Moz (100%; MGX 50% 1.4 Moz); Koolan Island iron ore Mineral Resources 3.3 Mt at 59.3% Fe, no Ore Reserves remaining.
- Document ID
- mrs-jun26
- Published UTC
- 2026-10-14T21:11:22Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
MGX Mining the Territory Conference Presentation, September 2026Presentation · MediumExtracted
Presentation: CTPJV Groundrush and Jims resource summary, 1.5 Mtpa plant design target, Groundrush decline (A$38m, 14 months), 33,000 m underground infill drilling to convert over 400 koz Inferred. Image pages.
- Document ID
- pres-sep26
- Published UTC
- 2026-09-02T22:14:39Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Report, June 2026 quarterResults · MediumExtracted
June 2026 quarter: group net cash inflow A$3.1m (including Koolan operating cash of A$5.8m); cash and investment reserves A$412.1m at 30 June 2026; no bank borrowings; equity holdings in Fenix, AIC and Maronan.
- Document ID
- q-jun26
- Published UTC
- 2026-07-19T22:24:58Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
MGX Noosa Mining Investor Conference Presentation, July 2026Presentation · LowExtracted
Noosa conference presentation, July 2026 (title: A new presence in Australian Gold). Pages are mostly images; figures not taken from it.
- Document ID
- pres-jul26
- Published UTC
- 2026-07-19T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Agreement to Divest the Koolan Island Iron Ore OperationEconomic Arrangement · HighExtracted
Binding conditional sale of Aztec Resources (Koolan Island) to Crestlink Koolan: A$5.2m on completion, A$5m tranche 2 (earlier of tenure transfer or two years), A$10m tranche 3 net of revenue share, and 1.5% of gross Koolan revenue capped at A$5m (CPI indexed). Crestlink assumes remaining rehabilitation, anticipated about A$30m. FIRB and ACCC approvals since received per the September 2026 quarter; completion targeted late 2026, longstop 31 March 2027.
- Document ID
- koolan-sale-jun26
- Published UTC
- 2026-06-09T23:00:00Z
- Projects
- koolan
- Commodities
- iron_ore
Ceasing to be a substantial holder (May 2026)Governance · LowExtracted
Form 605 notice of ceasing to be a substantial holder in Maronan Metals Limited (MGX and Gibson Minerals), 27 May 2026. Ownership context only.
- Document ID
- ceasing-sub-may26
- Published UTC
- 2026-05-27T08:48:46Z
- Projects
- —
- Commodities
- —
Quarterly Activities Report, March 2026 quarterResults · MediumExtracted
March 2026 quarter: CTPJV acquisition completed for A$50m cash; cash and investment reserves A$414.7m at 31 March 2026 after the payment.
- Document ID
- q-mar26
- Published UTC
- 2026-04-22T23:00:00Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
Macmahon selected preferred mining contractor at GroundrushOperations · MediumExtracted
CTPJV selected Macmahon Underground as preferred contractor for the Groundrush exploration decline; contract executed 31 August 2026 at about A$38m for 100% (per the September 2026 quarter).
- Document ID
- macmahon-apr26
- Published UTC
- 2026-04-19T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Presentation to Mining News Conference, March 2026Presentation · MediumExtracted
Mining News conference presentation titled A Fully-Funded Transition Into Gold, March 2026. Pages are mostly images; figures not taken from it.
- Document ID
- pres-mar26
- Published UTC
- 2026-03-08T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Appendix 3C Final buy-back notice (February 2026)Corporate Action · LowExtracted
Appendix 3C final buy-back notice dated 19 February 2026. The FY26 annual report records no buy-back transactions during FY26.
- Document ID
- bb-final-feb26
- Published UTC
- 2026-02-19T09:02:26Z
- Projects
- —
- Commodities
- —
Half-Year Financial Results, December 2025Results · HighExtracted
Half-year to 31 December 2025: cash and investment reserves A$496.2m and no bank borrowings.
- Document ID
- hy-dec25
- Published UTC
- 2026-02-17T23:00:00Z
- Projects
- koolan
- Commodities
- iron_ore
Investor Presentation, February 2026Presentation · MediumExtracted
CTPJV update investor presentation, February 2026 (title page: CTP JV update, advancing towards production). Pages are mostly images; no figure is taken from it without a primary-text cross-check.
- Document ID
- pres-feb26
- Published UTC
- 2026-02-15T23:00:00Z
- Projects
- central-tanami · koolan
- Commodities
- gold · iron_ore
Completion of CTPJV acquisitionTransaction · HighExtracted
MGX completed the 50% Central Tanami Project JV acquisition from Northern Star: A$50m cash paid, A$5.8m bank guarantees replaced, completion adjustments for cash, debt and working capital to follow; 3,600 sq km wholly owned tenure acquired.
- Document ID
- ctpjv-completion-feb26
- Published UTC
- 2026-02-04T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Report, December 2025 quarterResults · MediumExtracted
December 2025 quarter: cash and investment reserves A$497m at 31 December 2025, equivalent to about A$0.42 per share.
- Document ID
- q-dec25
- Published UTC
- 2026-01-21T23:00:00Z
- Projects
- central-tanami · koolan
- Commodities
- iron_ore
FIRB approval, 50% interest in Central Tanami Gold ProjectPermitting · MediumExtracted
Foreign Investment Review Board approval for the 50% CTPJV acquisition, a condition precedent to completion.
- Document ID
- ctpjv-firb-dec25
- Published UTC
- 2025-12-03T04:09:10Z
- Projects
- central-tanami
- Commodities
- gold
Latest Results from GroundrushResults · MediumExtracted
Final results of the Groundrush and Western Dolerite drilling programmes (27-hole RC and diamond tail programme) inside the CTPJV, November 2025.
- Document ID
- groundrush-results-nov25
- Published UTC
- 2025-11-25T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Appendix 3C Final buy-back notice (November 2025)Corporate Action · LowExtracted
Appendix 3C final buy-back notice, November 2025. Cumulative programme total per annual report note 23: 38,803,598 shares at an average A$0.313.
- Document ID
- bb-final-nov25
- Published UTC
- 2025-11-13T08:18:21Z
- Projects
- —
- Commodities
- —
Central Tanami Gold Project Mineral Resource Update (10 November 2025)Resource Update · MediumExtracted
Prior CTPJV Mineral Resource update: 31 Mt at 2.8 g/t for 2.8 Moz (100%) underpinning the June 2026 statement; Groundrush 11 Mt at 3.3 g/t for 1.2 Moz.
- Document ID
- ct-mru-nov25
- Published UTC
- 2025-11-09T23:00:00Z
- Projects
- central-tanami
- Commodities
- gold
Koolan Island Operations Update (October 2025 rockfall)Operations · HighExtracted
Main Pit footwall rockfall on 16 October 2025 led to suspension of mining at Koolan Island and a change to low-grade stockpile sales.
- Document ID
- koolan-rockfall-oct25
- Published UTC
- 2025-10-22T23:00:00Z
- Projects
- koolan
- Commodities
- iron_ore
Annual Report 2025 (year to 30 June 2025)Results · MediumExtracted
Prior-year annual report: FY25 revenue A$330.5m, loss after tax A$82.2m, operating cash flow A$98.5m, 1,179,551,935 shares on issue at 30 June 2025 (comparative for the dilution metric).
- Document ID
- ar-fy25
- Published UTC
- 2025-10-10T06:30:51Z
- Projects
- koolan
- Commodities
- iron_ore
Resources and Ore Reserves Statement as at 30 June 2025Reserve Update · MediumExtracted
Prior-year statement: Koolan Island Ore Reserves 4.1 Mt at 65.0% Fe, superseded by the June 2026 statement. The June 2026 statement gives 2025 Mineral Resources as 9.7 Mt in its summary and 6.1 Mt in Table 1; the difference is not resolved here and no 2025 resource figure is used.
- Document ID
- mrs-jun25
- Published UTC
- 2025-10-05T23:00:00Z
- Projects
- koolan
- Commodities
- iron_ore
Agreement to acquire 50% of the Central Tanami Gold Project (acquisition announcement and technical report)Transaction · HighExtracted
Acquisition agreement with Northern Star: A$50m cash on completion plus cash, debt and working capital adjustments; pre-completion spend above A$3m borne by MGX; Tanami Gold NL holds a right of first refusal; joint venture with Tanami Gold NL. Includes the Central Tanami technical summary and mining and processing cost assumptions (5% royalty).
- Document ID
- ctpjv-agreement-jul25
- Published UTC
- 2025-07-15T22:20:28Z
- Projects
- central-tanami
- Commodities
- gold
Evidence facts24
204048 AUD thousand
2026-06-30-30171 AUD thousand
2026-06-30-20604 AUD thousand
2026-06-301179551935 shares
2025-06-301180428735 shares
2026-06-30332152 AUD thousand
2026-06-3031000 t
2026-06-303300 t
2026-06-30408.7 AUD million
2026-09-30-5.1 AUD million
2026-09-3014.7 AUD million
2026-09-3067.0 AUD million
2026-09-30412.1 AUD million
2026-06-30414.7 AUD million
2026-03-31497 AUD million
2025-12-31496.2 AUD million
2025-12-3120.2 AUD million
2026-06-1130 AUD million
2026-06-1150 AUD million
2026-02-0550 AUD million
2025-07-161179551935 shares
2025-06-300.285 AUD
2026-11-043940.3999 USD/oz
2026-11-034451.5135 USD/oz
2026-11-03Conflicts requiring judgment1
- CTPJV acquisition cash outflow
A$50m consideration is the price; FY26 investing outflow of A$59.1m also includes completion adjustments, bank guarantee replacement costs and pre-completion funding, all reported in the annual report cash flow statement.