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Kogi Iron Ltd.
(Sydney:M4M)
Kogi Iron Ltd. (M4M) vs. iShares MSCI Australia ETF (EWA)
Kogi Iron Ltd. Business Overview & Revenue Model
Kogi Iron Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.05K | 39.30K | 0.00 | 0.00 | 0.00 | 10.00K |
| Gross Profit | 0.00 | 39.30K | -13.66K | -30.26K | -30.77K | 10.00K |
| EBITDA | -2.27M | -6.82M | -13.94M | -2.42M | -2.63M | -2.74M |
| Net Income | -6.89M | -6.89M | -13.95M | -2.46M | -3.15M | -2.74M |
Balance Sheet | ||||||
| Total Assets | 7.62M | 7.62M | 9.41M | 5.99M | 6.89M | 3.05M |
| Cash, Cash Equivalents and Short-Term Investments | 1.29M | 1.29M | 3.82M | 467.34K | 1.52M | 2.96M |
| Total Debt | 224.35K | 224.35K | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.32M | 1.32M | 760.21K | 596.70K | 1.11M | 2.17M |
| Stockholders Equity | 6.30M | 6.30M | 8.65M | 5.40M | 5.78M | 884.58K |
Cash Flow | ||||||
| Free Cash Flow | -2.44M | -6.20M | -2.12M | -1.90M | -2.47M | -1.49M |
| Operating Cash Flow | -6.08M | -6.08M | -2.06M | -1.82M | -2.41M | -1.42M |
| Investing Cash Flow | -123.01K | -123.01K | -66.18K | -84.61K | -40.03K | -70.68K |
| Financing Cash Flow | 3.67M | 3.67M | 5.48M | 850.17K | 1.02M | 3.88M |
Kogi Iron Ltd. Technical Analysis
Kogi Iron Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | AU$22.47M | 4.43 | 3.77% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$50.16M | 5.96 | 19.09% | ― | ― | ― | |
41 Neutral | AU$36.55M | -5.56 | -92.18% | ― | ― | 66.67% | |
28 Underperform | AU$19.72M | -4.64 | -32.09% | ― | ― | -141.04% |
Kogi Iron Ltd. Corporate Events
Macro Metals Limited has disclosed a substantial change in the indirect interests of director Simon Rushton following shareholder approvals at the company’s 27 November 2025 annual general meeting. Through Venture Capital Holdings (WA) Pty Ltd, Rushton’s indirect holding has increased by 175 million fully paid ordinary shares to a total of 300 million shares, alongside existing unlisted options, and he has also been issued 240 million performance rights with an estimated value of $1.92 million, while his separate indirect holding via Turtle Bay (WA) Pty Ltd remains unchanged. The new securities were issued as consideration linked to the exercise of the Rusty Option and other AGM-approved arrangements, significantly increasing Rushton’s economic exposure to Macro Metals and further aligning his interests with those of shareholders.
Macro Metals Limited has disclosed changes to the indirect interests of director Tolga Kumova, reflecting an increase in his holdings through associated entities Kitara Investments Pty Ltd and Gondwana Investment Group Pty Ltd. Kumova received 6,992,754 new shares issued in lieu of $60,000 in director fees and a further 44,431,428 shares issued to Gondwana Investment Group under a previously announced placement, taking his total indirect stake to more than 406 million shares along with existing unlisted options. The transactions, all approved by shareholders at the November 2025 AGM, underscore both the director’s growing equity exposure and the company’s reliance on equity-based compensation and capital raisings to fund its activities, aligning director incentives more closely with shareholder outcomes.
Macro Metals Limited has reported a change in the relevant interests of director Robert Andrew Jewson, who holds securities both directly and indirectly through Geonomics Australia Pty Ltd and Morpheus Holdings Pty Ltd. Jewson’s indirect interest increased by 7,692,054 fully paid ordinary shares issued in lieu of A$70,000 in director fees, as approved by shareholders at the 27 November 2025 AGM, lifting Geonomics Australia Pty Ltd’s holding to 156,692,054 shares while his direct holdings and option positions remain unchanged; the move underscores the company’s continued use of equity-based remuneration to conserve cash and align director incentives with shareholder interests.
Macro Metals Limited has disclosed a change in the indirect interests of director Nathan Ross Douglas, held via Sunday76 Pty Ltd, in accordance with ASX requirements. The company issued 6,250,000 fully paid ordinary shares to Douglas’s associated entity as incentive securities valued at $70,000, following shareholder ratification at the annual general meeting on 27 November 2025, increasing his indirect holdings while leaving his substantial portfolio of options unchanged.
Macro Metals Limited has issued 248,738,401 new ordinary shares, including placement shares, director fee shares, director incentive securities and consideration shares for the Rusty acquisition, all previously approved by shareholders at the company’s November 2025 annual general meeting. The company also outlined a growing business development pipeline, including an exclusivity agreement with an ASX-listed gold miner for proposed gold mining services and a profit-share arrangement, as well as pending framework agreements for its majority indigenous-owned joint venture to provide mining services to a tier-one iron ore producer in the Pilbara, while cautioning investors that these opportunities remain subject to final contracts and approvals and may not proceed as currently envisaged.
Macro Metals Limited has completed the acquisition of a 27.3% equity interest in Project Rusty Pty Ltd, the owner of the Extension Iron Ore Project in the Pilbara, in exchange for 175 million new shares, giving the company a direct development-stage stake in the project in addition to its existing mining services contract. The project, which hosts a JORC-compliant Indicated Mineral Resource of 16.1Mt at 54.2% Fe and can produce an 11.29Mt product at 57.16% Fe after processing, is advancing through approvals and feasibility with port access secured at Utah Point for up to 4 Mtpa from late 2026, a 200,000-tonne bulk sample and haulage studies underway, and offtake talks including potential prepayment facilities, positioning Macro to expand shareholder value as the project targets first ore in Q4 2026 and first shipments in early 2027.
Macro Metals Limited has applied to the ASX for quotation of 6,250,000 new ordinary fully paid shares under its existing issuer code M4M. The securities, which were issued on 18 December 2025 and stem from previously announced transactions, will expand the company’s quoted capital base once approved, modestly increasing liquidity for existing shareholders and supporting the company’s ongoing corporate and funding activities.
Macro Metals Limited has applied to the ASX for quotation of 198,056,973 new fully paid ordinary shares under its issuer code M4M. The securities, issued on 18 December 2025 following a previously announced transaction, will expand the company’s quoted share base and may have implications for liquidity and ownership structure once trading in the new securities commences.
Macro Metals Limited has notified the market of the issue of 240 million unquoted performance rights, dated 18 December 2025, under a new unlisted class of securities. The move significantly increases the pool of performance-based equity instruments available to management or key stakeholders, and is likely aimed at aligning incentives with long-term project and share price outcomes, though it will also be watched by investors for its potential dilutive impact should the rights vest and convert in future.
Macro Metals Limited has applied to the ASX for quotation of 44,431,428 new fully paid ordinary shares under its issuer code M4M. The securities, issued on 18 December 2025 as part of previously announced transactions, mark a substantial increase in the company’s quoted capital base, which may affect liquidity for existing shareholders and support future corporate or funding initiatives once trading in the new shares commences.
Macro Metals Limited held its Annual General Meeting, where all resolutions, except one withdrawn due to a director’s resignation, were passed. Notably, the approval of a 10% Placement Facility and the reinsertion of Proportional Takeover Bid Approval Provisions were passed as special resolutions, potentially impacting the company’s strategic flexibility and governance structure.
Kogi Iron Ltd. has outlined its strategic focus and operational achievements during its Annual General Meeting. The company highlighted its efforts in enhancing safety and culture, expanding its mining services, and strengthening its execution capabilities through strategic partnerships. These initiatives are aimed at scaling operations and improving market positioning in the iron ore and raw materials sectors.
Macro Metals Limited has released its Q1/FY26 Quarterly Report and Appendix 5B cash flow report, highlighting its ongoing efforts in mineral exploration and mining services. The company’s focus on expanding its iron ore and manganese assets, along with its comprehensive mining services, positions it strategically within the industry, potentially enhancing shareholder value and operational growth.
Macro Metals Limited, under the ASX issuer code M4M, has announced a proposed issue of securities, including 240,000,000 performance rights and 198,056,973 ordinary fully paid shares. The proposed issue date is set for December 18, 2025. This strategic move is expected to potentially enhance the company’s capital structure and market presence, offering new opportunities for growth and investment.
Macro Metals Limited has announced its upcoming Annual General Meeting scheduled for 27 November 2025, following the resignation of Mr. Tilley, which led to the withdrawal of a director election resolution. This development highlights the company’s ongoing adjustments in its leadership structure, potentially impacting its strategic direction and stakeholder interests.
Kogi Iron Ltd. has announced that Shawn Tilley has ceased to be a director of Macro Metals Limited as of October 24, 2025. Tilley held 50,000,000 unlisted options and 402,567,436 fully paid ordinary shares through a trust. This change in directorship may impact the company’s strategic direction and stakeholder interests.
Macro Metals Limited announced the resignation of Shawn Tilley from its board due to his commitments as Managing Director of Paramount Earthmoving. Despite his departure, Tilley expressed continued support for Macro Metals, indicating ongoing collaboration between the two entities. This change in leadership comes as Macro Metals continues its focus on expanding its mining operations and services, which may impact its strategic growth and stakeholder relations.