MGX Resources Limited. (MGX) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining today's teleconference for the release of Matt Gibson-Ion's FY2025 financial results. Matt Gibson Chief Executive Officer Peter Kerr will be leading the discussion and he's joined by Chief Financial Officer Jill Dobson and External Relations Manager John Fasius. Mr Kerr will provide a brief overview after which there will be an opportunity to ask questions. Due to time constraints only institutional participants will be invited to ask questions at that time. Her recording of the call will also be available via the Mount Gibson website shortly after completion of today's teleconference. Thank you and I'll now hand you over to Peter Kerr. Thanks Peter. Thanks Lisa. Good morning everyone and thanks for joining us to discuss Mount Gibson earnings results for the 25 financial year. As usual I'll give a brief overview before handing back to Lisa for any questions and also as usual Any dollar references we state are to Australian dollars unless otherwise indicated. Matt Gibson achieved a reasonable underlying financial performance in fiscal 25, adding to its cash and investment reserves despite weaker prices and some challenging mining conditions at Coolen Island. As reported last month, sales for the year finished one shipment below the guidance range at 2.61 million wet metric tonnes, at an average grade of 64.5% FE. This was down from the prior year sales of 4.1 million tonnes when we had the benefit of substantial stockpiles to sell and as expected processing and ore sales during fiscal 25 were more closely aligned to pit ore production as we set up the main pit for its final full year of operation. Combined with substantially lower iron ore prices over the year, sales revenue totaled $330.5 million FOB, so that's after shipping freight is deducted...