About MGX (ASX: MGX)
MGX Resources Limited is an Australian mining and resources company engaged in the mining, processing, shipment, export, and sale of hematite iron ore, with operations spanning Australia and China. The company also conducts treasury management, mineral resources acquisition, and investment activities, making it a diversified resources business rather than a pure-play miner.
Its flagship asset is the Koolan Island mine site, situated in the Kimberley region of Western Australia, which anchors the company's iron ore production. Formerly known as Mount Gibson Iron Limited, the company adopted its current name in November 2025. Incorporated in 1996, MGX Resources Limited is headquartered in West Perth, Australia.
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Latest Announcements
- MGX Resources (ASX: MGX) – Files 2026 Annual Financial ResultsAugust 21, 2026MGX Resources has completed a significant strategic transition, using its iron ore cash reserves to fund entry into the Central Tanami Gold Project while simultaneously stepping back from its troubled Koolan Island operation. The company paid $50 million for a 50 percent stake in the Central Tanami Project Joint Venture in February 2026, marking a […]
- MGX Resources (ASX: MGX) – MGX Files FY2026 Annual ReportAugust 21, 2026MGX Resources reported a significantly weaker FY2026, with revenue falling 37 percent to $220.8 million while the company slid deeper into loss. The pre-tax loss widened to $29.8 million, a 58 percent deterioration from the prior year, while the net loss after tax reached $30.2 million, representing a 63 percent increase in losses year-on-year. For […]
- MGX Resources (ASX: MGX) – Files Q8 Quarterly Activities ReportJuly 20, 2026MGX Resources has executed a binding conditional agreement to sell its Koolan Island iron ore operation to Crestlink for at least $20.2 million in upfront and deferred payments, plus up to $5 million in future revenue share, while transferring approximately $30 million in remaining rehabilitation obligations to the buyer. The agreement marks a strategic inflection […]
- MGX Resources (ASX: MGX) – Divests Koolan Island Iron Ore OperationJune 11, 2026MGX Resources has executed a binding conditional agreement to divest its Koolan Island iron ore operation to infrastructure provider Crestlink Koolan Pty Ltd, signalling a strategic pivot away from iron ore toward precious metals. The move generates up to $25.2 million in cash consideration for MGX (comprising $20.2 million upfront and deferred payments plus a […]
- MGX Resources (ASX: MGX) – Files Q1 2026 Quarterly Activities ReportApril 24, 2026MGX Resources has completed its acquisition of a 50% stake in the Central Tanami Gold Project in the Northern Territory, marking a major milestone for the company following the $50 million cash outlay. The project has moved beyond acquisition into execution, with Macmahon Underground selected as the preferred mining contractor for the Groundrush Gold Deposit […]
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