Magnetite Mines Limited (AU:MGT)
ASX:MGT
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Magnetite Mines Limited
(Sydney:MGT)
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Select Model
Rating:43Neutral
Price Target:
AU$0.03
â–Ľ(-42.00% Downside)
Action:ReiteratedDate:04/08/26
The score is driven primarily by weak financial performance (losses, negative margins, and negative operating/free cash flow). Technicals also detract due to a strong downtrend and negative MACD, even though RSI is deeply oversold. Valuation provides limited support because the negative P/E reflects unprofitable operations and no dividend yield is available.
Positive Factors
Project-focused business model
Magnetite Mines has a clear, single-asset development strategy centered on the Razorback project. A focused project pipeline reduces strategic drift, concentrates management effort on permitting and development, and creates a direct path to realizing resource value over the medium term.
Negative Factors
Persistent unprofitability
Sustained losses indicate the company cannot yet convert resources into profitable operations. Over 2-6 months this weakens investor appetite for financing, increases dilution risk when raising capital, and signals structural challenges in reaching operating economics required for a viable mine.
Read all positive and negative factors
Positive Factors
Negative Factors
Project-focused business model
Magnetite Mines has a clear, single-asset development strategy centered on the Razorback project. A focused project pipeline reduces strategic drift, concentrates management effort on permitting and development, and creates a direct path to realizing resource value over the medium term.
Read all positive factors
Magnetite Mines Limited (MGT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.12M
Dividend YieldN/A
Average Volume (3M)699.73K
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue GrowthN/A
EPS Growth34.89%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding294,053,500
10 Day Avg. Volume428,909
30 Day Avg. Volume699,734
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.25
Price to Sales (P/S)7681.25
P/FCF Ratio-1.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Magnetite Mines Limited Business Overview & Revenue Model
Company Description
Magnetite Mines Limited explores for mineral properties in South Australia. Its flagship project is Razorback Iron project that includes the Razorback Ridge, Iron Peak, and Ironback Hill deposits located in Adelaide, South Australia. The company w...
How the Company Makes Money
Magnetite Mines’ expected revenue model is tied to developing its magnetite iron ore projects into operating mines and processing facilities and then selling magnetite iron ore concentrate to customers (typically steel mills, traders, or downstrea...
Magnetite Mines Limited Financial Statement Overview
Summary
Income Statement
10
Very Negative
Balance Sheet
30
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -169.61K | 1.22K | 214.49K | 212.59K | 195.44K | 0.00 |
| Gross Profit | -256.65K | 1.22K | 214.49K | -43.09K | 88.69K | -9.19K |
| EBITDA | -3.52M | -4.06M | -4.35M | -4.94M | -3.45M | -1.62M |
| Net Income | -3.88M | -4.19M | -4.85M | -5.33M | -3.66M | -1.73M |
Balance Sheet | ||||||
| Total Assets | 43.30M | 41.30M | 38.23M | 38.97M | 45.79M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 2.82M | 1.49M | 1.21M | 5.13M | 19.35M | 16.59M |
| Total Debt | 2.61M | 3.20M | 117.33K | 2.42M | 2.21M | 1.98M |
| Total Liabilities | 3.50M | 4.31M | 1.38M | 3.66M | 6.44M | 2.81M |
| Stockholders Equity | 39.80M | 36.99M | 36.84M | 35.31M | 39.35M | 26.89M |
Cash Flow | ||||||
| Free Cash Flow | -3.87M | -5.82M | -7.25M | -13.86M | -12.26M | -4.31M |
| Operating Cash Flow | -2.45M | -2.81M | -3.67M | -3.87M | -2.29M | -1.13M |
| Investing Cash Flow | -1.99M | -2.91M | -3.77M | -9.98M | -10.04M | -3.17M |
| Financing Cash Flow | 6.23M | 5.99M | 3.52M | -358.20K | 15.10M | 20.06M |
Magnetite Mines Limited Technical Analysis
Negative
0.05
Price Trends
0.04
Negative
0.05
Negative
0.06
Negative
Market Momentum
>-0.01
Positive
11.00
Positive
9.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGT, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 11.00 is Positive, neither overbought nor oversold. The STOCH value of 9.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MGT.
Magnetite Mines Limited Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
47 Neutral | AU$24.20M | -0.61 | -0.06% | ― | ― | ― | |
47 Neutral | AU$12.15M | -2.58 | -11.39% | ― | -28.07% | -29.81% | |
45 Neutral | AU$9.23M | -4.36 | -46.06% | ― | ― | ― | |
43 Neutral | AU$9.12M | -1.19 | -10.09% | ― | ― | 34.89% | |
43 Neutral | AU$20.08M | -6.00 | -2.90% | ― | ― | 48.72% | |
43 Neutral | AU$12.49M | -13.13 | -5.53% | ― | ― | -25.00% |
* Basic Materials Sector Average
AU:MGT
Magnetite Mines Limited
0.03
-0.08
-71.03%
AU:HIO
Hawsons Iron Ltd
0.02
<0.01
33.33%
AU:VR8
Vanadium Resources Ltd.
0.02
0.00
0.00%
AU:GEN
Genmin Ltd.
0.01
-0.03
-75.00%
AU:MGL
Magontec Limited
0.21
0.03
16.67%
AU:MIO
Macarthur Minerals Ltd.
0.03
>-0.01
-12.12%
Magnetite Mines Limited Corporate Events
Magnetite Mines pays directors partly in shares to conserve cash
Apr 2, 2026
Magnetite Mines has issued 677,083 fully paid ordinary shares to directors Paul White and Simon Wandke in lieu of part of their cash remuneration for the first quarter of 2026, following prior shareholder approval. The director fees were converted...
Magnetite Mines director boosts stake via rights issue and fee shares
Apr 2, 2026
Magnetite Mines director Paul White has increased his direct and indirect holdings in the company through participation in a recent rights issue and the receipt of shares in lieu of director fees for the first quarter of 2026. The transactions saw...
Magnetite Mines Seeks ASX Quotation for New Employee Incentive Shares
Apr 2, 2026
Magnetite Mines Limited has applied to the ASX for quotation of 677,083 new fully paid ordinary shares, issued on 2 April 2026. The securities were issued under an employee incentive scheme and, once quoted, will expand the company’s listed ...
Magnetite Mines’ MGTOG Securities Reinstated to ASX Quotation
Apr 1, 2026
Magnetite Mines Limited has had its MGTOG security class reinstated to quotation on the ASX, following confirmation that the company has met the exchange’s Listing Rule 2.5 requirements. The move restores trading in this class of securities,...
Magnetite Mines details top holders of new MGTOG quoted options
Apr 1, 2026
Magnetite Mines Limited has released details of the top 20 holders and distribution schedule for its new class of quoted options, trading under the code MGTOG and exercisable at $0.08 by 1 October 2028. The disclosure follows the company’s r...
Magnetite Mines Seeks ASX Quotation for New Shares and Options
Apr 1, 2026
Magnetite Mines Limited has applied to the ASX for quotation of 28,817,743 new fully paid ordinary shares and 29,970,593 deferred options expiring in October 2028. The move expands the company’s listed capital base and may enhance liquidity ...
Magnetite Mines Raises $1.15m in Rights Issue to Advance Razorback and Exploration
Apr 1, 2026
Magnetite Mines has completed a 1-for-2 renounceable rights issue, raising about $1.15 million before costs and issuing nearly 28.8 million new shares and the same number of options exercisable at $0.08 and expiring in October 2028. The offer, sup...
Green Iron SA Consortium Clarifies Port Pirie Iron Ore Export Pathway
Mar 22, 2026
The Green Iron SA consortium, which includes Magnetite Mines, has completed a high-level engineering assessment that maps out a potential iron ore export pathway at Port Pirie, running from train arrival through to ship loading at Flinders Ports&#...
Magnetite Mines Corrects Settlement Terms for Rights Issue Options
Mar 20, 2026
Magnetite Mines Limited has issued a correction to its recent announcement on the closing of its renounceable rights issue, clarifying the settlement basis for the options to be issued. The company now states that, subject to ASX quotation, the op...
Magnetite Mines presses shareholders as rights issue deadline nears
Mar 19, 2026
Magnetite Mines has reminded shareholders that its pro rata 1-for-2 renounceable rights issue, priced at 4 cents per share, will close at 5:00pm Sydney time on 25 March 2026, with all directors committing to participate. The offer includes one fre...
Magnetite Mines Secures Underexplored Manna Hill Gold Tenement in South Australia
Mar 18, 2026
Magnetite Mines Limited has secured Exploration Licence 7106 for the Manna Hill Gold Project in northeastern South Australia, about 100km from its Razorback Iron Ore Project. The 371 km² tenement contains historical small-scale gold workings ...
Magnetite Mines Files Interim Accounts for December 2025 Half-Year
Mar 13, 2026
Magnetite Mines Limited has released its interim financial statements for the half-year ended 31 December 2025, providing investors with updated information on its financial performance, position, and cash flows. The report, approved by the board ...
Magnetite Mines launches A$3.92m rights issue to fund Razorback and exploration push
Mar 10, 2026
Magnetite Mines has launched a renounceable pro-rata rights issue to raise up to A$3.92 million, offering one new share for every two held at A$0.040 with one free attaching option per new share, and allowing eligible shareholders to apply for add...
Magnetite Mines launches discounted $3.9m renounceable rights issue
Mar 10, 2026
Magnetite Mines Limited has launched a renounceable pro-rata rights issue to raise up to approximately $3.92 million before costs, offering eligible shareholders one new share for every two held at $0.04 per share, plus one free attaching option p...
Magnetite Mines Opens Renounceable Rights Issue With Attaching Options
Mar 10, 2026
Magnetite Mines Limited has opened a pro rata 1-for-2 renounceable rights issue with 1-for-1 attaching options to raise up to $3.92 million, partially underwritten to $0.8 million by Mahe Capital. All directors intend to participate, and eligible ...
Magnetite Mines Begins Trading Rights for Renounceable Offer on ASX
Mar 5, 2026
Magnetite Mines has begun trading rights associated with its recently announced renounceable rights issue on the ASX under the code MGTRH. Trading in these rights is scheduled to conclude on 18 March 2026, marking a key step in the company’s...
Magnetite Mines defines target market for free attaching options in rights issue
Mar 2, 2026
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 ...
Magnetite Mines Launches $3.92m Renounceable Rights Issue to Advance Razorback and Exploration
Mar 2, 2026
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 shor...
Magnetite Mines Plans Pro Rata Issue and Option Placement to Bolster Capital Base
Mar 2, 2026
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 ...
Magnetite Mines launches partially underwritten rights issue to raise up to $3.92m
Mar 2, 2026
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...
Magnetite Mines Options Lapse After Unmet Conditions
Feb 4, 2026
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 dil...
Magnetite Mines Advances Razorback Approvals and Green Iron Strategy Amid Expanded Exploration Push
Jan 30, 2026
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....
Magnetite Mines Director Paul White Increases Stake Through Fee-for-Shares Arrangement
Jan 23, 2026
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 ...
Magnetite Mines Pays Directors in Shares to Preserve Cash
Jan 23, 2026
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...
Magnetite Mines Seeks ASX Quotation for New Incentive Scheme Shares
Jan 23, 2026
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 com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.