• Iron ore sales of 1.35 million wet metric tonnes (Mwmt) for $147.2 million
• Profit before tax and impairments of $39.9 million
• Net loss after tax and impairments of $20.8 million due to $60.3 million non-cash impairment

MGX Resources Limited (MGX) reported its December 2025 half-year financial results, which were impacted by a major rockfall incident at its Koolan Island operation in October 2025. The company recorded iron ore sales of 1.35 million wet metric tonnes (Mwmt) for sales revenue of $147.2 million Free on Board (FOB), including 0.48 Mwmt of low-grade iron ore fines. Profit before tax and impairments increased 113% to $39.9 million. However, the company incurred a net loss after tax of $20.8 million, reflecting a $60.3 million non-cash impairment of the remaining carrying values of Koolan Island's assets following the rockfall incident. MGX maintained a strong balance sheet with total cash and investments of $496.2 million at 31 December 2025. The company also completed a transformational $50 million acquisition of a 50% interest in the Central Tanami Gold Project in Australia's Northern Territory subsequent to the reporting period.

MGX is currently targeting the sale of approximately 1.0 Mwmt of low-grade (42-45% Fe) iron ore from stockpiles at Koolan Island in the June 2026 half-year, which is anticipated to reduce the impact of the October 2025 rockfall incident.