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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% | |
40 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 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.
Magnetite Mines Limited announced that all resolutions at its Extraordinary General Meeting were passed with the required majority. This outcome supports the company’s strategic initiatives, including raising up to $3.5 million through the issuance of shares and convertible notes, which will aid in advancing its projects and strengthening its market position.
Magnetite Mines Limited is making significant progress in developing its Razorback Iron Ore Project, with a focus on securing strategic partnerships and funding for a Definitive Feasibility Study. The company has made advancements in technical and commercial negotiations with JFE Shoji and other potential partners. Recent developments include submitting a Mining Lease Proposal, refining water supply solutions, and increasing the project’s Mineral Resource Estimate. The company is also exploring additional opportunities in gold and critical minerals, while seeking shareholder approval for financial flexibility through capital raising initiatives.
Magnetite Mines Limited has announced a renounceable pro-rata rights issue to raise approximately $2.65 million, offering one new share for every three shares held, along with a free attaching option. The rights issue, partially underwritten by Mahe Capital Pty Ltd, allows eligible shareholders to subscribe for additional shares, while ineligible shareholders will have their entitlements managed by the underwriter, with any potential premium distributed proportionately.
Magnetite Mines Limited has announced a target market determination for its offer of up to 40,852,578 options over shares to eligible shareholders as part of a pro rata renounceable rights issue. These options, exercisable at $0.12 each, are designed for investors with a medium to long-term outlook, and they provide the right to gain exposure to the company’s equities. The options are subject to ASX approval for official quotation, and investors should be prepared for potential fluctuations and the possibility of losses, as there is no guaranteed income or capital protection.
Magnetite Mines Limited has issued a prospectus for a pro rata renounceable rights issue, aiming to raise approximately $2.65 million by offering new shares and options to eligible shareholders. This financial move is partially underwritten and includes a shortfall offer and options for the lead manager, potentially impacting the company’s capital structure and market operations.
Magnetite Mines Limited has opened a renounceable rights issue to raise up to $2.65 million, offering shareholders the opportunity to purchase one new share for every three held, along with a free option for each new share. This initiative is part of the company’s strategy to support its ongoing projects, including the Razorback Iron Ore Project, which is positioned to capitalize on the increasing demand for high-quality iron ore products. The rights issue allows shareholders to trade their entitlements on the ASX, providing flexibility and potential value to stakeholders.
Magnetite Mines Limited has announced the commencement of rights trading for its Renounceable Rights Issue on the ASX under the code MGTRG. This development is part of the company’s strategy to enhance its financial standing and operational capabilities, potentially impacting its market position positively by attracting more investors and stakeholders.
Magnetite Mines Limited has announced a pro rata renounceable rights issue, offering up to 40,852,578 options to acquire fully paid ordinary shares, subject to ASX approval. These options, exercisable at $0.12 each, are intended for eligible shareholders and will expire 30 months after issuance. The company targets investors with a medium to long-term outlook, emphasizing the potential for increased shareholding and exposure to future share value appreciation, although no guarantees are provided. The initiative aims to strengthen the company’s financial positioning and attract investors interested in the mining sector.
Magnetite Mines Limited has announced a renounceable rights issue to raise approximately $2.65 million, offering one new share for every three shares held, along with an attaching option for each new share. The funds will support strategic partnerships, mining lease proposals, de-risking studies, and exploration of gold and critical minerals, enhancing the company’s operational and market positioning.
Magnetite Mines Limited has announced a proposed issuance of securities, involving a standard pro rata issue and a placement. The company plans to issue a total of 40,852,578 ordinary fully paid shares with options for an additional 1,327,709 shares. This move is part of the company’s strategy to raise capital, which could potentially enhance its market position and provide funding for ongoing and future projects.
Magnetite Mines Limited has announced a pro rata renounceable rights issue to raise approximately $2.65 million, offering up to 40,852,578 new shares and options to eligible shareholders. This capital raising initiative, partially underwritten for $500,000, aims to strengthen the company’s financial position and support its ongoing operations, potentially impacting its market standing and providing opportunities for stakeholders.
Magnetite Mines Limited has released a presentation providing updates on its operations, emphasizing the stability of its production targets and financial assumptions since previous announcements. The company maintains its commitment to transparency and accuracy in its reporting, ensuring stakeholders that there are no material changes affecting its mineral resources and ore reserves estimates.
Magnetite Mines Limited has announced a renounceable rights issue to raise up to $2.65 million, with the funds intended to support various strategic initiatives, including securing funding for the Razorback Iron Ore Project’s Definitive Feasibility Study and exploring gold and critical minerals potential. The rights issue offers shares at a discount and includes free attaching options, allowing shareholders to trade their rights. The company is actively engaging with strategic partners like JFE Shoji to secure necessary funding, and it has made significant progress in regulatory approvals and technical advancements, such as increasing its mineral resource estimate and developing a proprietary saline water ore process.
Magnetite Mines Limited has released a presentation outlining its operations and future prospects, emphasizing its commitment to providing premium iron ore for sustainable steelmaking. The announcement highlights the company’s acknowledgment of the Ngadjuri People as the traditional owners of the land where its Razorback Iron Ore Project is located, reflecting its dedication to cultural respect and environmental responsibility.
Magnetite Mines Limited has extended its non-binding Heads of Agreement with JFE Shoji Australia to the end of 2025, while also negotiating with other potential strategic partners for co-investment in the Razorback Iron Ore Project’s Definitive Feasibility Study. The company updated its Mineral Resource Estimate, increasing the Razorback Project’s resources to approximately 3.8 billion tonnes. Additionally, the company is advancing its Mining Lease Proposal and has completed successful metallurgical tests, indicating the potential for using saline water in ore processing. These developments position Magnetite Mines to meet the increasing global demand for high-grade magnetite concentrates, aligning with decarbonization efforts in the steel industry.
Magnetite Mines Limited announced the cessation of 2,081,085 performance rights due to the lapse of conditional rights that were not met or became incapable of being satisfied. This cessation may impact the company’s capital structure and could have implications for stakeholders regarding the company’s operational goals and performance metrics.
Magnetite Mines Limited announced a change in the director’s interest, specifically concerning Timothy Leigh Dobson’s holdings. The change involved the acquisition of 511,392 fully paid shares due to the vesting of Short-Term Incentives (STI) performance rights and the lapse of 747,420 unlisted performance rights. This adjustment in holdings reflects the company’s ongoing management of executive incentives and aligns with its strategic objectives.
Magnetite Mines Limited has issued 1,225,462 fully paid ordinary shares to employees following the vesting and conversion of performance rights, as previously approved by shareholders. This move aligns with the company’s compliance with relevant sections of the Corporations Act, and there is no excluded information required to be disclosed. The issuance supports the company’s operational strategies and may enhance employee alignment with its long-term goals.