MGX secures FIRB approval, rebrands amid gold project acquisition

MGX Resources Limited has received Foreign Investment Review Board (FIRB) approval for its A$50 million acquisition of a 50% interest in the Central Tanami Gold Project Joint Venture (CTPJV) in the Northern Territory from Northern Star Resources. This approval marks a critical step, with final completion contingent on extending infrastructure arrangements on one tenement with the Central Land Council. MGX anticipates completing the transaction ahead of the contractual deadline of 31 March 2026.

Concurrently, the company officially changed its name from Mount Gibson Iron Limited to MGX Resources Limited, effective 4 December 2025. This rebranding reflects MGX's strategic diversification beyond iron ore into other mineral commodities, particularly precious and base metals, spurred by the Central Tanami Gold Project acquisition.

The name change, overwhelmingly supported by shareholders at the 12 November 2025 Annual General Meeting, maintains the ASX ticker code MGX, ensuring continuity while aligning the company's identity with its broader resource focus. MGX expects the acquisition to establish it as a long-life Australian gold producer, with plans to accelerate the project to a development decision within 12-18 months.