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Magnetite Mines Limited ( (AU:MGT) ) has shared an announcement.
Magnetite Mines has issued 547,805 fully paid ordinary shares to directors Paul White and Simon Wandke in lieu of a portion of their cash director fees for the quarter ended 31 December 2025, following shareholder approval at its November 2025 AGM. The shares, granted under the company’s Employee Incentive Plan and priced using an average VWAP formula, are part of a broader initiative to conserve cash, while the company confirms it remains compliant with its reporting and disclosure obligations and that no additional undisclosed price-sensitive information is associated with this issuance.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
More about Magnetite Mines Limited
Magnetite Mines Limited is an ASX-listed iron ore company focused on developing magnetite resources in South Australia’s Braemar iron region. The company owns a 100% mineral resource of 6 billion tonnes of iron ore and is advancing the long-life Razorback Iron Ore Project near Adelaide, aiming to supply premium, direct-reduction grade iron ore products to meet growing demand from the decarbonising global steel industry.
Average Trading Volume: 316,079
Technical Sentiment Signal: Sell
Current Market Cap: A$10.17M
See more data about MGT stock on TipRanks’ Stock Analysis page.