# MBG: Full Year Statutory Accounts Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mbg-full-year-statutory-accounts--82945af8-63c7-4d80-ab16-c61e57c98c5f Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145622 Publisher: asx Original announcement: 2026-09-29T09:19:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T13:33:44.739Z Atlas analysis updated: 2026-09-29T13:33:44.739Z - Company: MB GOLD LIMITED - Ticker: MBG - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Drill results, Capital raise, Other - Extracted: 2026-09-29 13:33:45 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary MB Gold Limited released its first annual financial statements for the period ended June 30, 2026, detailing its successful IPO which raised $9 million and the acquisition of the Marble Bar Gold Project. The company reported a net loss of $1.07 million, including significant non-cash expenses. Initial exploration activities included a 6,000m RC drill program, yielding encouraging gold intercepts at the Twin Veins Prospect, and the company has commenced a Phase 2 drilling program. Reasoning: The company successfully listed on the ASX, acquired its primary gold project, and reported initial positive drill results, establishing its foundation as a gold explorer, despite being early-stage and incurring a loss. - Positive factor: Successful IPO and capital raise - Positive factor: Acquisition of gold projects - Positive factor: Encouraging initial drill results - Positive factor: Heritage agreements in place - Negative factor: Early-stage exploration company with inherent risks - Negative factor: Net loss for the period - Negative factor: Significant non-cash expenses - Negative factor: No comparative financial information Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 4 ## Classification and evidence **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The release does not disclose QA/QC procedures, lab certification, or CP/QP sign-off for the drill results. Evidence · text > Initial assay results from the Twin Veins Prospect returned encouraging gold mineralisation, including: **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The reported drill intercepts are given as downhole widths with no mention of true width or drill orientation. Evidence · text > 20m @ 1.7g/t Au from 81m, including 7m @ 4.06g/t Au from 81m in 26MBRC005; **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: The cut-off grade used for reporting the drill intercepts is not stated in the document. Evidence · text > Initial assay results from the Twin Veins Prospect returned encouraging gold mineralisation, including: ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Drill Results (4) ### 26MBRC005 [Link to this fact](https://atlas-staging.minestarters.com/news/mbg-full-year-statutory-accounts--82945af8-63c7-4d80-ab16-c61e57c98c5f#fact-drill-facts-0) Marble Bar · gold #### Identity - Hole ID: 26MBRC005 - Project: Marble Bar - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: MBG #### Geometry - Grade: 1.7 - Grade Unit: g/t - Intercept: 20 m - From: 81 m - To: 101 m - Intercept Depth: 81 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 26MBRC005:81-101 #### Location - Location: Twin Veins Prospect - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Initial drill intercept shows encouraging gold grades over a good width, indicating potential for the project. - Positive factor: Encouraging gold grade - Positive factor: Good intercept length - Negative factor: No QA/QC disclosure - Negative factor: Apparent width only - Negative factor: Cut-off undisclosed Evidence · text > 20m @ 1.7g/t Au from 81m, including 7m @ 4.06g/t Au from 81m in 26MBRC005; #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is just 150km from Port Hedland and 40km from the Marble Bar townsite." ### 26MBRC005 [Link to this fact](https://atlas-staging.minestarters.com/news/mbg-full-year-statutory-accounts--82945af8-63c7-4d80-ab16-c61e57c98c5f#fact-drill-facts-1) Marble Bar · gold #### Identity - Hole ID: 26MBRC005 - Project: Marble Bar - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: MBG #### Geometry - Grade: 4.06 - Grade Unit: g/t - Intercept: 7 m - From: 81 m - To: 88 m - Intercept Depth: 81 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 26MBRC005:81-88 #### Location - Location: Twin Veins Prospect - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This sub-interval shows a strong-grade gold intercept within the broader mineralized zone, significantly enhancing the prospectivity. - Positive factor: High-grade gold intercept - Positive factor: Good grade-thickness product - Negative factor: No QA/QC disclosure - Negative factor: Apparent width only - Negative factor: Cut-off undisclosed Evidence · text > 7m @ 4.06g/t Au from 81m in 26MBRC005 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is just 150km from Port Hedland and 40km from the Marble Bar townsite." ### 26MBRC015 [Link to this fact](https://atlas-staging.minestarters.com/news/mbg-full-year-statutory-accounts--82945af8-63c7-4d80-ab16-c61e57c98c5f#fact-drill-facts-2) Marble Bar · gold #### Identity - Hole ID: 26MBRC015 - Project: Marble Bar - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: MBG #### Geometry - Grade: 2.5 - Grade Unit: g/t - Intercept: 8 m - From: 48 m - To: 56 m - Intercept Depth: 48 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 26MBRC015:48-56 #### Location - Location: Twin Veins Prospect - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Another encouraging gold intercept at a relatively shallow depth, supporting the prospectivity of the area. - Positive factor: Good gold grade - Positive factor: Shallow intercept - Negative factor: No QA/QC disclosure - Negative factor: Apparent width only - Negative factor: Cut-off undisclosed Evidence · text > 8m @ 2.5g/t Au from 48m in 26MBRC015 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is just 150km from Port Hedland and 40km from the Marble Bar townsite." ### 26MBRC019 [Link to this fact](https://atlas-staging.minestarters.com/news/mbg-full-year-statutory-accounts--82945af8-63c7-4d80-ab16-c61e57c98c5f#fact-drill-facts-3) Marble Bar · gold #### Identity - Hole ID: 26MBRC019 - Project: Marble Bar - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: MBG #### Geometry - Grade: 1.25 - Grade Unit: g/t - Intercept: 5 m - From: 82 m - To: 87 m - Intercept Depth: 82 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 26MBRC019:82-87 #### Location - Location: Twin Veins Prospect - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A positive gold intercept, contributing to the overall encouraging initial drill results from the prospect. - Positive factor: Positive gold grade - Negative factor: No QA/QC disclosure - Negative factor: Apparent width only - Negative factor: Cut-off undisclosed Evidence · text > 5m @ 1.25g/t Au from 82m in 26MBRC019 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Project is just 150km from Port Hedland and 40km from the Marble Bar townsite." ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.