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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 | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.22K | 1.22K | 214.49K | 212.59K | 195.44K | 0.00 |
| Gross Profit | 1.22K | 1.22K | 214.49K | -43.09K | 88.69K | -9.19K |
| EBITDA | -4.06M | -4.06M | -4.35M | -4.94M | -3.45M | -1.62M |
| Net Income | -4.19M | -4.19M | -4.85M | -5.33M | -3.66M | -1.73M |
Balance Sheet | ||||||
| Total Assets | 41.30M | 41.30M | 38.23M | 38.97M | 45.79M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 1.49M | 1.49M | 1.21M | 5.13M | 19.35M | 16.59M |
| Total Debt | 3.20M | 3.20M | 117.33K | 2.42M | 2.21M | 1.98M |
| Total Liabilities | 4.31M | 4.31M | 1.38M | 3.66M | 6.44M | 2.81M |
| Stockholders Equity | 36.99M | 36.99M | 36.84M | 35.31M | 39.35M | 26.89M |
Cash Flow | ||||||
| Free Cash Flow | -5.82M | -5.82M | -7.25M | -13.86M | -12.26M | -4.31M |
| Operating Cash Flow | -2.81M | -2.81M | -3.67M | -3.87M | -2.29M | -1.13M |
| Investing Cash Flow | -2.91M | -2.91M | -3.77M | -9.98M | -10.04M | -3.17M |
| Financing Cash Flow | 5.99M | 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% | |
46 Neutral | AU$42.48M | -10.32 | -5.81% | ― | -67.81% | -244.10% | |
42 Neutral | AU$9.76M | ― | -40.27% | ― | ― | -114.29% | |
41 Neutral | AU$11.17M | -1.66 | -11.34% | ― | ― | 34.89% | |
35 Underperform | AU$58.38M | -13.05 | -15.50% | ― | ― | 3.79% |
Magnetite Mines Limited Corporate Events
Magnetite Mines Limited has confirmed additional near-surface rare earth element mineralisation at its Ironback Hill Project through re-assayed archived drill samples. The company plans a low-cost air-core drill program in early 2026 to further explore the spatial extent of this mineralisation and has applied for an exploration license to extend its coverage in the area. These developments align with the company’s strategy to enhance shareholder value through selective exploration of critical minerals, while maintaining a focus on its core magnetite iron ore projects.
Magnetite Mines Limited has announced that The CSL Group Inc. has joined the Green Iron SA consortium, a collaboration aimed at establishing a green iron industry in South Australia. CSL’s expertise in maritime logistics, particularly in self-unloading transhipment vessels and port infrastructure, will enhance the consortium’s capability to create a fully integrated supply chain from mine to market, complementing the existing strengths of partners like Aurizon and Flinders Port Holdings.
Magnetite Mines Limited announced the cessation of 286,071 options expiring on October 14, 2025, which were not exercised or converted. This development may impact the company’s capital structure and could influence investor perceptions regarding the company’s financial strategy and future growth potential.
Magnetite Mines Limited has made significant progress in its Razorback Iron Ore Project, continuing negotiations to secure a second strategic partner for funding the Definitive Feasibility Study. The company has also advanced its Mining Lease Proposal, reaching in-principle terms on tenement overlap agreements, and is exploring infrastructure opportunities with government support. Additionally, Magnetite Mines is actively pursuing multi-commodity exploration, identifying rare earth elements at Ironback Hill and conducting a geological review for gold and copper. The company raised $3.86 million through a rights issue and completed a convertible loan note conversion, strengthening its financial position.
Magnetite Mines Limited has announced the quotation of 350 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of October 28, 2025. This move is part of the company’s strategy to enhance its financial flexibility and support its ongoing projects, potentially strengthening its position in the iron ore market.
Magnetite Mines Limited has announced its 2025 Annual General Meeting (AGM) scheduled for November 26, 2025, in Adelaide. Shareholders will receive relevant documents electronically unless a physical copy is requested. The meeting will discuss the company’s business agenda, and shareholders are encouraged to review the 2025 Annual Report available on the company’s website. This AGM is an opportunity for stakeholders to engage with the company’s strategic direction and operational updates.
Magnetite Mines Limited announced a change in director’s interest involving an off-market transfer of 300,000 fully paid ordinary shares by Mr. Tim Dobson between related holdings, with no change in beneficial ownership. This administrative update is part of the company’s routine disclosures and does not impact its strategic direction or operations, but it ensures transparency and compliance with ASX listing rules.
Magnetite Mines Limited has announced a change in the interest of its director, Paul White, who has acquired 221,300 fully paid ordinary shares issued in lieu of director fees for the period from July 1, 2025, to September 30, 2025. This acquisition reflects a strategic decision to compensate the director through equity, potentially aligning his interests more closely with those of the shareholders and indicating confidence in the company’s future prospects.
Magnetite Mines Limited has announced the quotation of 319,655 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of October 10, 2025. This move is part of an employee incentive scheme and reflects the company’s ongoing efforts to enhance its market presence and operational capabilities, potentially impacting its industry positioning and stakeholder interests.
Magnetite Mines Limited has released its Corporate Governance Statement for 2025, detailing its adherence to the ASX Corporate Governance Principles and Recommendations. The company has implemented a comprehensive governance framework, including various policies and procedures to ensure transparency and accountability. While the company actively promotes diversity, it acknowledges challenges in setting measurable gender diversity objectives due to its size and operational scale. The statement highlights the company’s commitment to ethical practices and continuous improvement in governance.
Magnetite Mines Limited has released its annual report for the year ending June 30, 2025. The report includes a comprehensive overview of the company’s financial performance, operational activities, and governance practices. Key highlights include a detailed review of operations, financial statements, and reports from the chair and various committees. This release provides stakeholders with insights into the company’s strategic direction and financial health, which may influence its market positioning and future growth prospects.
Magnetite Mines Limited announced a change in the director’s interest, with Paul White acquiring additional securities through a rights issue. This change reflects an increase in White’s holdings, which may indicate confidence in the company’s future prospects and could impact stakeholder perceptions positively.
Magnetite Mines Limited announced a proposed issue of securities, specifically options expiring on March 5, 2028, with a total of 12,306,667 securities to be issued. This move is part of the company’s strategy to potentially enhance its capital structure and support its ongoing projects, which could strengthen its position in the iron ore market and provide value to its stakeholders.
Magnetite Mines Limited has updated its previous announcement to reflect changes in its underwriting agreement, which now includes an increased underwriting commitment and a higher options fee for the underwriter. This update, outlined in a supplementary prospectus dated August 20, 2025, signifies a strategic move to strengthen financial backing for its proposed securities issue, potentially enhancing its market position and providing more robust support for its operational goals.
Magnetite Mines Limited has announced the quotation of new securities, including 18,676,923 ordinary fully paid shares and 6,370,256 options expiring in March 2028. This issuance aligns with the terms of a previously disclosed Rights Issue, and it reflects the company’s ongoing efforts to strengthen its financial position and support its operations in the iron ore market.
Magnetite Mines Limited has announced that its securities, under the code MGTOF, will be reinstated to quotation following compliance with the ASX Listing Rule 2.5. This reinstatement marks a significant step for the company, potentially enhancing its market presence and offering stakeholders renewed confidence in its operational compliance and strategic direction.
Magnetite Mines Limited announced the release of further details regarding its new class of quoted securities, MGTOF, including information on the top 20 option holders and distribution schedule. This development is part of the company’s broader strategy to enhance its market presence and support the Razorback Iron Ore Project, which aims to produce high-quality iron ore products for global steelmakers.
Magnetite Mines Limited has successfully closed a pro rata renounceable rights issue, raising $2.65 million, and due to excess demand, has announced a follow-on placement to raise an additional $1.214 million. This brings the total funds raised to approximately $3.87 million before costs, enhancing the company’s financial position and potentially strengthening its market presence.
Magnetite Mines Limited has announced the quotation of 40,852,578 ordinary fully paid securities and the same number of options expiring on March 5, 2028, on the Australian Securities Exchange (ASX). This move is part of a previously announced transaction and is expected to enhance the company’s financial flexibility and support its growth strategy in the competitive mining sector.
Magnetite Mines Limited has successfully closed its rights issue, raising $2.65 million, with strong support from shareholders and new investors, indicating confidence in the company’s Razorback Iron Ore Project. To address excess demand, the company will conduct a follow-on placement to raise an additional $1.214 million, bringing the total funds raised to approximately $3.87 million. These funds will support the company’s strategic initiatives, including securing DFS funding, advancing technical optimization, and exploring its tenement portfolio.
Magnetite Mines Limited has updated its previous announcement regarding a proposed issue of securities. The update includes amendments to the underwriting agreement, notably an increase in the underwriting commitment and the options fee to the underwriter, as outlined in the supplementary prospectus dated August 20, 2025. This development may enhance the company’s financial position and support its strategic initiatives in the mining sector.
Magnetite Mines Limited has announced a supplementary prospectus detailing a pro rata renounceable rights issue to raise up to $2.65 million, with Mahe Capital increasing its underwriting commitment to $2 million. Additionally, the company identified near-surface, clay-hosted rare earth element mineralization at its Ironback Hill Project, adjacent to the Razorback Project, which may impact its operations and industry positioning by potentially expanding its resource base.
Magnetite Mines Limited has initiated a renounceable rights issue to raise approximately $2.65 million, offering shareholders the opportunity to purchase new shares at a discount. The company has secured increased underwriting support from Mahe Capital Pty Ltd, reflecting confidence in its growth prospects, particularly following the discovery of rare earth mineralisation at its Ironback Hill Project.
Magnetite Mines Limited has announced the quotation of 3,750,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of August 19, 2025. This move is part of the company’s strategic efforts to enhance its capital structure, potentially improving its market position and providing additional resources for its ongoing projects.
Magnetite Mines Limited has identified near-surface, clay-hosted rare earth element mineralisation at its Ironback Hill Project in South Australia. This discovery was made by re-assaying archived drill samples from previous iron ore drilling programs. The company plans to conduct low-cost follow-up exploration to assess the potential value of further programs. While the Razorback Iron Ore Project remains the company’s primary focus, this discovery aligns with its strategic approach to explore the full potential of its tenements in response to favorable market conditions.