Latest Mgx Resources (ASX:MGX) News

Deal headlines and big drill hits shared the stage with a brutal sell-off in a handful of tiny raisings. The week’s biggest winners were backed by clear news; the biggest losers showed what happens when buyers vanish after a halt.

Small caps stole the spotlight, with a handful of stocks doubling on deal news and early-stage project updates. Large miners were steadier, but even they couldn’t fully escape the week’s sharp gap moves.

MGX Resources reported a $20.8 million half-year loss, driven by a major rockfall at Koolan Island that halted mining and triggered a $60 million asset impairment. The company is pivoting towards gold with its recent acquisition of a 50% stake in the Central Tanami Project.

A single exploration name blew the doors off the leaderboard, while two well-known uranium plays and a Nevada explorer sank hard. Behind the noise: deals got closer to completion, big raisings reset prices, and several “good news” gaps didn’t survive the week.

A single drill program in WA delivered a once-a-year spike, while several small caps fell hard after reopening with price gaps. This week also saw big money raised for gold and uranium builds, and a run of resource upgrades across critical minerals.

MGX Resources has completed its $50 million acquisition of a 50% stake in the Central Tanami Gold Project, positioning itself for a major push in one of Australia's highest-grade gold ventures.

MGX Resources Limited reported resilient December quarter results despite a major rockfall at Koolan Island, generating $15 million in free cashflow and advancing its acquisition of a 50% stake in the high-grade Central Tanami Gold Project.

MGX Resources has received Foreign Investment Review Board approval to acquire a 50% interest in the Central Tanami Gold Project, marking a pivotal step toward becoming a long-life Australian gold producer.

Mount Gibson Iron has announced a further extension of its on-market share buy-back program, now set to run until November 2026, maintaining flexibility amid uncertain market conditions.

Mount Gibson Iron suspends mining at Koolan Island following a significant rockfall, withdrawing FY26 sales guidance and initiating workforce reductions while advancing rehabilitation efforts.

Mount Gibson Iron Limited has agreed to acquire a 50% interest in the Central Tanami Gold Project, marking a strategic shift towards gold production while maintaining steady iron ore operations at Koolan Island.

Mount Gibson Iron has extended its on-market share buy-back program for another year, allowing up to 10% of issued shares to be repurchased. Since inception, the company has bought back 3.2% of its shares, signaling ongoing capital management efforts.