Metals X Limited
MLX.ASXMaterials
Metals X is Australia's largest Tin producer and holds a portfolio of assets from exploration to development.
Market Data
$1.580
+0.0%$1.4B
13.4x
$0.118
0.00%
+0.4%
Latest Earnings
Appendix 4E and Annual Financial Report
27 February 2026
Metals X Limited (ASX: MLX) delivered a strong FY2025 result, with revenue surging 30.2% to $285.0M driven by higher tin prices at its 50%-owned Renison Tin Mine in Tasmania, despite a slight 2.3% decline in production to 10,748 tonnes of tin-in-concentrate. Net profit after tax rose 2.2% to $104.6M, with the modest earnings growth relative to revenue growth reflecting a significant increase in income tax expense (up 88.3%). The company ended the year with a robust debt-free balance sheet and cash of $293.6M, up 33% year-on-year, with a Final Investment Decision on the Rentails tailings reprocessing project targeted for late 2026. Key points: Revenue surged 30.2% to $285.0M driven by higher tin prices, with average realised tin price materially above prior year; Gross profit grew 33.0% to $126.7M with gross margin improving to 44.5% (FY2024: 43.5%); Cash balance grew 33.1% to $293.6M with zero corporate debt, providing a strong platform for growth and capital management
Recent Announcements
Becoming a substantial holder for SRZ
SRZ became a substantial holder (16.44%).
Appendix 4E and Annual Financial Report
Metals X Limited (ASX: MLX) delivered a strong FY2025 result, with revenue surging 30.2% to $285.0M driven by higher tin prices at its 50%-owned Renison Tin Mine in Tasmania, despite a slight 2.3% decline in production to 10,748 tonnes of tin-in-concentrate. Net profit after tax rose 2.2% to $104.6M, with the modest earnings growth relative to revenue growth reflecting a significant increase in income tax expense (up 88.3%). The company ended the year with a robust debt-free balance sheet and cash of $293.6M, up 33% year-on-year, with a Final Investment Decision on the Rentails tailings reprocessing project targeted for late 2026. Key points: Revenue surged 30.2% to $285.0M driven by higher tin prices, with average realised tin price materially above prior year; Gross profit grew 33.0% to $126.7M with gross margin improving to 44.5% (FY2024: 43.5%); Cash balance grew 33.1% to $293.6M with zero corporate debt, providing a strong platform for growth and capital management
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