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Magnetite Mines Limited
(Sydney:MGT)
Magnetite Mines Limited (MGT) vs. iShares MSCI Australia ETF (EWA)
Magnetite Mines Limited Business Overview & Revenue Model
Magnetite Mines Limited Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.22K | 214.49K | 212.59K | 195.44K | 0.00 |
| Gross Profit | 1.22K | 214.49K | -43.09K | 88.69K | -9.19K |
| EBITDA | -4.06M | -4.35M | -4.94M | -3.45M | -1.62M |
| Net Income | -4.19M | -4.85M | -5.33M | -3.66M | -1.73M |
Balance Sheet | |||||
| Total Assets | 41.30M | 38.23M | 38.97M | 45.79M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 1.49M | 1.21M | 5.13M | 19.35M | 16.59M |
| Total Debt | 3.20M | 117.33K | 2.42M | 2.21M | 1.98M |
| Total Liabilities | 4.31M | 1.38M | 3.66M | 6.44M | 2.81M |
| Stockholders Equity | 36.99M | 36.84M | 35.31M | 39.35M | 26.89M |
Cash Flow | |||||
| Free Cash Flow | -5.82M | -7.25M | -13.86M | -12.26M | -4.31M |
| Operating Cash Flow | -2.81M | -3.67M | -3.87M | -2.29M | -1.13M |
| Investing Cash Flow | -2.91M | -3.77M | -9.98M | -10.04M | -3.17M |
| Financing Cash Flow | 5.99M | 3.52M | -358.20K | 15.10M | 20.06M |
Magnetite Mines Limited Technical Analysis
Magnetite Mines Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | AU$16.07M | -5.00 | -6.61% | ― | ― | ― | |
46 Neutral | AU$43.32M | -4.34 | -15.50% | ― | ― | 3.79% | |
45 Neutral | AU$17.39M | -3.54 | -14.33% | ― | ― | ― | |
45 Neutral | AU$11.53M | -76.67 | -40.27% | ― | ― | -114.29% | |
41 Neutral | AU$7.97M | -2.24 | -11.34% | ― | ― | 34.89% | |
41 Neutral | AU$39.05M | -3.56 | -5.81% | ― | -67.81% | -244.10% |
Magnetite Mines Limited Corporate Events
Magnetite Mines has issued a Target Market Determination for up to 98,017,838 free attaching options over its ordinary shares, to be offered to eligible shareholders who participate in a pro rata renounceable rights issue and associated shortfall offer. Each option is exercisable at $0.08 within 30 months of issue, with the company intending to seek ASX quotation, though this remains subject to exchange approval.
The options are aimed at investors seeking medium to long term exposure to a small cap resources stock, who can tolerate significant share price volatility and the risk of capital loss. Holders may benefit from potential upside by exercising options and increasing their shareholding if the share price exceeds the exercise price, but there is no guaranteed income or capital protection and the commercial viability of exercising will depend on future trading prices.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines has launched a renounceable pro-rata rights issue to raise up to approximately $3.92 million before costs, offering one new share for every two held at $0.040 per share, with one free attaching option for each new share, and a shortfall offer for shareholders who take up their full entitlement. The partially underwritten raising, with proceeds earmarked for working capital, accelerated exploration across its critical minerals tenements, advancing a strategic partner transaction to fund the Razorback Definitive Feasibility Study and progressing the Razorback Mining Lease Proposal and related enabling infrastructure negotiations, is available only to eligible shareholders in Australia and New Zealand, with option holders required to exercise vested options before the record date to participate.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited has announced a proposed renounceable pro rata issue of up to 98,017,838 ordinary fully paid shares, each accompanied by an option to acquire one share at an exercise price of $0.08 expiring 2.5 years from issue. The offer has a record date of 6 March 2026, closes on 25 March 2026, and the new securities are scheduled to be issued on 1 April 2026.
In addition to the pro rata offer, the company plans a separate placement or other type of issue of up to 3,920,714 options on the same terms, also targeted for issue on 1 April 2026. The proposed capital raising is designed to expand Magnetite Mines’ equity base and may provide additional funding flexibility to support its iron ore project development and strengthen its market position among emerging magnetite producers.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited has released a prospectus for a pro rata renounceable rights issue offering up to 98,017,838 new shares at $0.04 each, with one free attaching option per new share, on the basis of one share for every two held on the record date. The offer, which is partially underwritten to $800,000 and may raise up to about $3.92 million, includes a shortfall facility and additional options for the lead manager, providing the company with fresh equity funding and listed options that can support its future capital needs and project development.
The prospectus is a transaction-specific document under section 713 of the Corporations Act, tailored for a disclosing entity whose securities are already quoted on the ASX. Magnetite Mines plans to apply for official quotation of the new shares and options within seven days of the prospectus date, giving existing investors tradable entitlements and reinforcing its access to public markets while concentrating the capital raising on current shareholders.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines reported that 167,940 MGTAC options exercisable at $0.78 and due to expire in 2029 have lapsed after the performance conditions became incapable of satisfaction on February 1, 2026. The cessation modestly trims potential future dilution and underscores the company’s strict adherence to performance hurdles before equity issuance, signalling disciplined capital management for shareholders.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines reported steady progress at its flagship Razorback Iron Ore Project, expanding its strategic partnering efforts in line with accelerating global decarbonisation trends in the steel sector, particularly in China and the Middle East. While a non-binding agreement with JFE Shoji Australia expired at year-end, the company renewed its collaboration with ZEN Energy to assess green iron production in South Australia and advanced key approvals, with its Mining Lease Proposal moving into cross-agency assessment and public consultation. The Green Iron SA consortium added shipping specialist CSL Australia, and potential infrastructure tailwinds emerged as ElectraNet’s planned high-voltage line corridor was flagged near Razorback and the state advanced work on a Braemar water supply feasibility study, both of which could materially reduce future project costs. Concurrently, Magnetite Mines continued to build optionality through low-cost exploration, confirming further near-surface rare earth mineralisation at Ironback Hill, securing a new REE tenement, progressing copper and gold exploration, and maintaining a modest cash balance of $2.8 million while converting a portion of its convertible loan notes to equity.
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.
Magnetite Mines Limited has disclosed a change in the interests of director Paul White, who has received 379,250 fully paid ordinary shares in the company issued in lieu of director fees for the period from 1 October 2025 to 31 December 2025. The issue, which involved no cash consideration, increases White’s total direct and indirect shareholding, including interests held via a superannuation fund and a family trust, and underscores the alignment of director compensation with shareholder interests through equity-based remuneration.
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.
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.
Magnetite Mines Limited has applied to the ASX for quotation of 547,805 new fully paid ordinary shares issued under its employee incentive scheme. The additional securities, which are not subject to transfer restrictions, modestly increase the company’s quoted capital base and reflect the ongoing use of equity-based remuneration to align staff and management interests with shareholder value.
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.
Magnetite Mines has secured the Braemar Creek Exploration Licence EL7100 in South Australia, a 227 square kilometre tenement located immediately adjacent to the company’s Ironback Hill rare earths prospect and magnetite deposit. The licence consolidates the company’s position in the Braemar Iron Region by capturing key downstream drainage corridors interpreted to be related to the clay-hosted REE mineralisation at Ironback Hill, giving Magnetite Mines strategic exploration optionality for potential rare earth extensions while it continues to prioritise development of the Razorback Iron Ore Project.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited has updated the market on changes to its capital structure, confirming that 600,000 options with an exercise price of A$0.915, expiring on 15 December 2025 under the code MGTAM, have lapsed unexercised. The expiry of these options slightly reduces the company’s pool of potential dilutive securities and may marginally simplify its capital base, though it does not directly affect current issued shares or ongoing operations.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines has updated its strategic partnering approach for the Razorback Iron Ore Project, shifting its focus toward jurisdictions and counterparties that are advancing steel decarbonisation with greater urgency and clearer policy, capital and execution frameworks. The company’s non-binding Heads of Agreement with JFE Shoji Australia will lapse at the end of 2025, though JFE Shoji continues to acknowledge Razorback’s strategic value and remains open to future collaboration, while a renewed memorandum of understanding with ZEN Energy will see the parties jointly assess a green iron production opportunity in South Australia with Magnetite Mines as the key long-term raw material supplier. The announcement underscores Razorback’s potential role as a globally significant DR-grade magnetite project in emerging low-emissions steelmaking pathways, and reflects a deliberate pivot to align with regions and partners most likely to fund, certify and offtake green iron products as global decarbonisation policies and technologies evolve.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited announced a change in the director’s interest, specifically for Timothy Leigh Dobson, involving the acquisition and lapse of various securities. The changes include the issuance of unquoted options and unlisted performance rights, reflecting strategic adjustments in the company’s executive holdings, which could impact its operational strategies and stakeholder interests.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited has announced the issuance of unquoted equity securities as part of an employee incentive scheme. This includes 5,947,159 STI Performance Rights and 6,937,517 Unlisted LTI Options, which are subject to restrictions on transfer until certain conditions are met. This move is likely aimed at aligning employee interests with the company’s long-term growth and operational goals.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited has announced the issuance of new unquoted equity securities, including STI Performance Rights and Unlisted LTI Options. This move is part of the company’s strategy to incentivize and retain key personnel, potentially impacting its operational capabilities and long-term growth prospects.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
Magnetite Mines Limited announced the cessation of certain securities, specifically options that have either lapsed due to unmet conditions or expired without exercise. This announcement may impact the company’s capital structure and could influence investor perceptions regarding the company’s financial strategies and market positioning.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.