MC Mining reduces annual net loss by 51%
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- MC Mining cut its full-year net loss after tax by 51% to US$17.8 million.
- The company reported no dividend declaration and an end-of-year unrestricted cash balance of US$2.9 million.
- The reduction in losses was supported by a drop in non-cash charges from US$25.1 million to US$2 million.
MC Mining (ASX:MCM) reduced its net loss after tax by 51% to US$17.8 million for the financial year ended June 30.
The improved bottom line compares with a net loss after tax of US$36 million recorded in the prior financial year.
Administrative expenses increased 42% to US$9.8 million, while finance costs decreased to US$0.9 million for the period.
Following the announcement, the MC Mining share price was unchanged at $0.26.
The company reported that revenue fell 57% to US$7.4 million. The group incurred net cash outflows from operating activities of US$8.9 million.
Operationally, the miner recorded zero fatalities and one lost-time injury across its operations during the 2026 financial year.
