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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 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 214.49K | 212.59K | 195.44K | 0.00 | 0.00 |
| Gross Profit | 214.49K | -43.09K | 88.69K | -9.19K | -9.98K |
| EBITDA | -4.85M | -4.94M | -3.45M | -1.62M | -264.00K |
| Net Income | -4.85M | -5.33M | -3.66M | -1.73M | -374.00K |
Balance Sheet | |||||
| Total Assets | 38.23M | 38.97M | 45.79M | 29.70M | 10.42M |
| Cash, Cash Equivalents and Short-Term Investments | 1.21M | 5.13M | 19.35M | 16.59M | 830.87K |
| Total Debt | 117.33K | 2.42M | 2.21M | 1.98M | 2.08M |
| Total Liabilities | 1.38M | 3.66M | 6.44M | 2.81M | 2.29M |
| Stockholders Equity | 36.84M | 35.31M | 39.35M | 26.89M | 8.14M |
Cash Flow | |||||
| Free Cash Flow | -7.25M | -13.86M | -12.26M | -4.31M | -1.22M |
| Operating Cash Flow | -3.67M | -3.87M | -2.29M | -1.13M | -877.93K |
| Investing Cash Flow | -3.77M | -9.98M | -10.04M | -3.17M | -331.65K |
| Financing Cash Flow | 3.52M | -358.20K | 15.10M | 20.06M | 1.81M |
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 | $9.92B | 5.61 | 1.58% | 3.19% | 3.03% | -41.96% | |
45 Neutral | AU$8.43M | ― | -11.14% | ― | ― | 38.70% | |
| ― | AU$14.84M | ― | -6.64% | ― | ― | ― | |
| ― | AU$12.64M | ― | -17.86% | ― | ― | ― | |
43 Neutral | AU$11.20M | 25.00 | -4.50% | ― | ― | 94.60% | |
42 Neutral | $9.70M | ― | -42.30% | ― | ― | -66.67% | |
35 Underperform | AU$22.30M | ― | -15.31% | ― | ― | 7.62% |
Magnetite Mines Limited Corporate Events
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.
Magnetite Mines Limited has announced an Extraordinary General Meeting (EGM) scheduled for August 15, 2025, to discuss company business. Shareholders will receive related documents electronically unless requested otherwise, and are encouraged to submit proxy votes or questions in advance. This meeting is a significant step in engaging stakeholders and aligning company operations with strategic goals.
Magnetite Mines Limited has announced a change in the director’s interest, with Paul White acquiring 220,911 fully paid ordinary shares issued in lieu of director fees for the period from April to June 2025. This change reflects a strategic move to align the director’s interests with the company’s performance, potentially impacting the company’s governance and stakeholder confidence.
Magnetite Mines Limited has issued 319,094 fully paid ordinary shares to directors Paul White and Simon Wandke as part of a strategy to reduce cash expenditures by compensating them with shares instead of cash for their director fees. This move aligns with the company’s financial management initiatives and reflects its commitment to optimizing resources while advancing its strategic projects.
Magnetite Mines Limited has announced the application for quotation of 319,094 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme and reflects the company’s ongoing efforts to enhance its operational capabilities and market positioning. The issuance of these securities could potentially impact the company’s capital structure and provide additional resources for its strategic initiatives.
Magnetite Mines Limited announced the cessation of 135,360 securities due to the expiry of options without exercise or conversion as of June 27, 2025. This development may impact the company’s capital structure and could influence investor perceptions regarding the company’s future financing strategies.
Magnetite Mines Limited has issued a Cleansing Notice related to its Convertible Securities Agreements, which allows the company to issue convertible notes and options without further disclosure to retail investors. This move is part of a funding strategy involving US-based investment funds managed by C/M Capital Partners, LP, aiming to raise up to $7 million. The latest tranche raised $291,000 through the issuance of new convertible notes and options, enhancing the company’s financial flexibility and market positioning.
Magnetite Mines Limited has announced the issuance of new unquoted equity securities, including 314,280 convertible notes and 1,200,495 options to be issued for one fully paid ordinary share with an exercise price of $0.1212, expiring in three years. This move is likely to impact the company’s capital structure and could provide additional funding for its operations, potentially strengthening its position in the iron ore market.
Magnetite Mines Limited has announced significant updates for its Razorback Iron Ore Project, including ongoing negotiations with a second potential strategic partner for funding alongside JFE Shoji Australia. The company’s mineral resource estimate for the Razorback Project has increased to approximately 3.8 billion tonnes, with global resources rising to 6.6 billion tonnes. Initial test results for using saline water in ore processing are promising, though further optimization is needed. The project is progressing through the South Australian Government’s approval process, and the company is working towards establishing a green iron hub at Port Pirie.
Magnetite Mines Limited announced a change in the director’s interest notice, specifically regarding the expiry of listed options held by Director Paul White. As of May 23, 2025, 183,708 MGTO listed options exercisable at $0.45 per share expired, impacting the director’s holdings but not involving any new acquisitions or disposals.
Magnetite Mines Limited announced the late lodgement of Appendix 3Y, detailing changes in director’s interests due to an administrative oversight. The company issued 214,948 fully paid ordinary shares to directors Paul White and Simon Wandke as part of their remuneration, following shareholder approval. The company assures stakeholders that this was an isolated incident and maintains confidence in its compliance processes with ASX listing rules.
Magnetite Mines Limited announced the expiration of 10,812,883 quoted options exercisable at $0.45 each as of May 23, 2025. This change in issued capital reflects the company’s ongoing management of its financial instruments, which may impact its operational flexibility and investor relations. The expiration of these options is part of the company’s broader strategy to optimize its capital structure as it continues to develop its significant iron ore projects.
Magnetite Mines Limited has announced the application for the quotation of new securities on the Australian Securities Exchange (ASX). These securities are being issued as a result of options being exercised or other convertible securities being converted. This move is part of the company’s strategic efforts to enhance its financial flexibility and support its ongoing operations and growth initiatives in the iron ore sector.
Magnetite Mines Limited has issued a Cleansing Notice related to its Convertible Securities Agreements, allowing the conversion of notes into shares without further disclosure to retail investors. This move, involving a funding arrangement with C/M Capital, aims to raise up to $7 million, enhancing the company’s financial flexibility and potentially impacting its market position by facilitating further project development.
Magnetite Mines Limited announced the issuance of new unquoted equity securities, including 810,000 convertible notes and options for 2,881,548 shares with an exercise price of $0.1301, expiring in three years. This move is part of the company’s strategy to enhance its financial flexibility and support its ongoing operations, potentially impacting its market position and offering new opportunities for stakeholders.