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An update from Latrobe Magnesium Limited ( (AU:LMG) ) is now available.
Latrobe Magnesium has received a $6.29 million research and development tax incentive from the Australian Taxation Office, which it has applied directly to reduce its debt to financier RnD Funding, cutting the outstanding balance on its R&D facility to about $2.6 million. The company expects to clear this remaining liability through the planned sale of two surplus property lots for a combined $2.8 million, while also flagging a dispute over a lease extension with RnD that remains under negotiation and has been disclosed as a contingent liability, developments that collectively improve its near‑term funding position as it advances commissioning of its magnesium demonstration plant and longer-term expansion plans.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited is an Australian materials company developing a magnesium metal demonstration plant in Victoria’s Latrobe Valley, using a patented hydrometallurgical and thermal reduction process to extract magnesium metal and cementitious material from industrial ash generated by brown coal power stations. The company plans to transition from the demonstration phase to a 10,000 tonne per annum commercial magnesium plant in Victoria by 2028 and is pursuing a large-scale ‘Mega’ plant in Sarawak, Malaysia with 100,000 tonnes per annum capacity, targeting global automotive, aerospace, medical and electronics markets with an ESG-focused, low‑carbon, circular-economy production model.
Average Trading Volume: 8,372,918
Technical Sentiment Signal: Sell
Current Market Cap: A$59.43M
Find detailed analytics on LMG stock on TipRanks’ Stock Analysis page.