Top Page
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 |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$19.97M | 3.93 | 3.77% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$38.83M | 4.62 | 19.09% | ― | ― | ― | |
41 Neutral | AU$41.12M | -5.56 | -92.18% | ― | ― | 66.67% | |
28 Underperform | AU$24.97M | -5.88 | -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.
Macro Metals Limited has announced the issuance of unquoted equity securities in the form of unlisted options with varying expiration dates and exercise prices. This move is part of a previously announced transaction and is not intended to be quoted on the ASX. The issuance of these securities may impact the company’s capital structure and provide additional financial flexibility.
Macro Metals Limited has announced the appointment of Nathan Ross Douglas as a new director, effective from October 13, 2025. The announcement details his interests in securities, including options and shares, which are significant for the company’s governance and potential strategic direction. This move could impact the company’s operations and industry positioning by potentially influencing future decisions and strategies.
Macro Metals Limited has announced a proposed issue of securities, including unlisted options and fully paid ordinary shares, as part of a placement or other type of issue. The issuance involves a total of 12,000,000 unlisted options expiring in 2029 and 30,000,000 unlisted options expiring in 2030, along with 6,250,000 fully paid ordinary shares. This move is aimed at raising capital and potentially enhancing the company’s market position by increasing its financial flexibility.
Macro Metals Limited has appointed Nathan Douglas as Executive Director to strengthen its board and drive key project initiatives. With over 30 years of experience in the mining and resources sector, Douglas is expected to enhance the company’s operational readiness and contribute to its strategic growth. His appointment aligns with Macro Metals’ shift towards becoming a more operational mining company, as it anticipates securing longer-term contracts and expanding its mining services division. The company’s focus on sustainable growth and value creation for shareholders is underscored by this leadership change.
Macro Metals Limited has announced its upcoming Annual General Meeting (AGM) scheduled for November 27, 2025, in Perth, Western Australia. The company has set October 16, 2025, as the deadline for director nominations. This meeting is a key event for stakeholders, as it will address the company’s strategic directions and governance, potentially impacting its operational and market positioning.
Macro Metals Limited, operating in the mining industry, is advancing its Extension Iron Ore Project located in the Eastern Pilbara Region of Western Australia. The company has implemented a permitting plan for a 2.0 to 4.0 Mtpa operation and is on track for construction readiness by late 2026. An offtake agreement with a pre-payment facility for construction capex is in advanced negotiation, and a 200,000 tonne bulk sample has been approved. The company is also working on a civil engineering assessment for the haulage road corridor and will complete a feasibility study to aid stakeholders in making a final investment decision. Additionally, shareholders will vote on acquiring the Managing Director’s 27.3% equity stake in the project at the 2025 AGM.
Tolga Kumova and related parties have adjusted their substantial holding in Macro Metals Limited, a company involved in the metals industry. The change reflects an increase in the number of fully paid ordinary shares held, now totaling 355,301,163 shares, which represents an 8.22% voting power. This adjustment is primarily due to the exercise of options and the dilutionary effect of a private placement. The shift in voting power might influence the company’s shareholder dynamics and strategic decisions.
Kogi Iron Ltd. has announced a change in the substantial holding interests of Robert Jewson and related parties in Macro Metals Limited. The voting power of these parties has decreased from 7.18% to 5.98% due to the dilutionary effect of a private placement. This change reflects a significant shift in the ownership structure of Macro Metals Limited, which could impact the company’s strategic decisions and stakeholder relations.
Macro Metals Limited has announced a change in the director’s interest notice, specifically related to Shawn Tilley. The company reported that Tilley, through Paramount Trading Pty Ltd as trustee for Tilley Share Holdings Trust, acquired 100,641,859 fully paid ordinary shares valued at $1,006,418.59. This acquisition is part of the Strategic Placement announced on 2 December 2024, increasing Tilley’s indirect holdings to 402,567,436 shares. This move could potentially strengthen the director’s influence and align interests with the company’s strategic objectives.
Macro Metals Limited has announced the quotation of 100,641,859 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code M4M, effective from October 1, 2025. This move is part of previously announced transactions and is expected to enhance the company’s visibility and accessibility in the financial markets, potentially impacting its market positioning and stakeholder engagement.
Macro Metals Limited has completed the final tranche of its strategic placement with Paramount Earthmoving Pty Ltd, receiving a cash injection of approximately $1 million. This transaction increases Paramount’s stake in Macro Metals to 9.32% of the company’s issued capital. The funds from this placement, along with a previous capital raise, position Macro Metals to continue its business plan and commence revenue generation from mining services within the year. The collaboration with Paramount is expected to accelerate the company’s growth, leveraging the strengths of both parties.
Macro Metals Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement, approved by the board, outlines the company’s adherence to ASX Corporate Governance Council’s principles, detailing the extent of compliance and any deviations from the recommendations. This release is crucial for stakeholders as it provides transparency regarding the company’s governance practices, potentially impacting investor confidence and the company’s market positioning.
Macro Metals Limited has released its 2025 Corporate Governance Statement, detailing its adherence to the ASX Corporate Governance Council’s recommendations. The statement outlines the company’s governance framework, including the roles and responsibilities of the board and management, the appointment of directors, and the role of the company secretary. This governance approach aims to enhance shareholder value and maintain investor confidence, while also considering the interests of other stakeholders.
Macro Metals Limited, listed on the ASX under the ticker M4M, has released its 2025 Annual Report, detailing the company’s performance and strategic initiatives. The report highlights the company’s focus on safety, indigenous partnerships, and sustainability, while also addressing key risks and governance practices. This comprehensive overview provides stakeholders with insights into Macro Metals’ operational strategies and market positioning, emphasizing its commitment to community and heritage.