Mindax (MDX) H2 2025 earnings summary

Executive summary

• Focused on mineral exploration, project assessment, and securing additional funding during FY25.

• Advanced Mt Lucky and Meekatharra gold projects with drilling and soil sampling, and progressed the Mt Forrest iron project towards full ownership.

• Completed phase two of the Mid-West Shared Infrastructure Project and made strategic investments in Doublebell Resource Wealth and Cashmere Iron.

Financial highlights

• Revenue for FY25 was $53,688, with an operating loss before tax of $2,628,863, similar to the prior year.

• Total comprehensive loss for the year was $7,810,063, impacted by a $4,684,916 impairment on investments.

• Cash balance at year-end was $1,318,901, up from $520,043, following a $7.75 million capital raise.

• Basic and diluted loss per share was (0.15) cents, compared to (0.10) cents in FY24.

Outlook and guidance

• Plans to maintain current operational levels, with no major changes expected in the near term.

• Preparation underway for follow-up drilling at Mt Lucky and Meekatharra in FY26.

• Ongoing efforts to consolidate iron ore assets and advance infrastructure projects in the Mid-West region.