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MGX Navigates Koolan Rockfall with $15M Cashflow, Eyes Central Tanami Gold Boost
8:32am on Friday 23rd of January, 2026 AEDT
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Mining
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MGX Navigates Koolan Rockfall with $15M Cashflow, Eyes Central Tanami Gold Boost
8:32am on Friday 23rd of January, 2026 AEDT
Key Points
Koolan Island mining suspended after October 2025 rockfall; focus shifted to low-grade stockpile sales
Generated $15 million free cashflow and maintained $497 million in cash and investments
50% acquisition of Central Tanami Gold Project approved by Foreign Investment Review Board, completion expected by March 2026
Central Tanami Mineral Resources updated to 2.8 million ounces of gold, positioning it among Australia’s highest grade undeveloped projects
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