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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 | 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
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$12.05M | -5.00 | -6.35% | ― | ― | ― | |
46 Neutral | AU$34.49M | -4.34 | -19.53% | ― | ― | 3.79% | |
45 Neutral | AU$15.65M | -3.54 | -14.48% | ― | ― | ― | |
43 Neutral | AU$30.77M | -2.58 | -5.94% | ― | -67.81% | -244.10% | |
42 Neutral | AU$8.54M | -1.85 | -21.57% | ― | ― | -114.29% | |
41 Neutral | AU$11.17M | -1.19 | -10.09% | ― | ― | 34.89% |
Magnetite Mines Limited Corporate Events
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’ Berth 7. The concept is built around using existing industrial land, port infrastructure and transport corridors to enable iron ore concentrate exports as a precursor to future pellet and green iron production.
The proposed configuration is designed to limit community impacts by focusing on dust and noise mitigation, minimising road-rail conflicts, and incorporating covered storage and sealed conveyor systems. All consortium members have endorsed continued work on the Port Pirie export concept, subject to more detailed technical and economic studies, regulatory approvals and ongoing stakeholder engagement, signalling a coordinated push to advance South Australia’s green iron supply chain.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 options will trade on a normal settlement basis from 2 April 2026, instead of on a deferred settlement basis as previously advised, with all other terms unchanged, ensuring clearer expectations for investors regarding trading and settlement mechanics.
The clarification removes potential confusion over how and when the new options can be traded, aligning the capital-raising disclosure with standard market practice. This adjustment may support smoother secondary market liquidity for the options and reinforces the company’s communication discipline at a time when it is seeking to fund development of its large-scale Razorback magnetite project and broader critical minerals portfolio in South Australia.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 free, tradeable option for every new share subscribed, with a 2.5-year term and an 8-cent exercise price, and the options are expected to be quoted on the ASX on a deferred settlement basis.
Using Black-Scholes valuation assumptions, the company highlighted an indicative value range of 0.8 to 1.3 cents per option depending on share price volatility, underscoring additional embedded value for participants in the raising. Magnetite Mines also outlined detailed online procedures for eligible Australian and New Zealand shareholders to access their prospectus and personalised entitlement forms, aiming to maximise take-up and ensure smooth execution of the capital raising.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 in quartz vein systems and has seen only limited modern exploration, mostly targeting shallow mineralisation.
Against a backdrop of strong gold prices, the company plans a staged, low-cost review program focused on data compilation, land access approvals and initial field verification. The project broadens Magnetite Mines’ multi-commodity strategy and offers potential upside for shareholders if modern assessment confirms the historical prospectivity of the area.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 and reviewed by an independent auditor, offers insight into the company’s capital structure and operational funding as it progresses its magnetite iron ore development activities.
The disclosure of these interim results helps stakeholders assess the company’s financial health and readiness to advance its projects in a volatile resources market. By detailing profit or loss, balance sheet movements, and changes in equity, Magnetite Mines gives the market greater transparency on how it is managing exploration expenditure and sustaining its development strategy.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 additional shortfall shares. Proceeds will fund working capital, accelerate multi-commodity exploration, support negotiations with strategic partners following the award of Major Project Status for the Razorback Definitive Feasibility Study, and advance regulatory, land access and infrastructure work for the Razorback mining lease, while ineligible shareholders will have their tradable rights sold via the underwriter with any premium returned proportionately.
The offer, partially underwritten by Mahe Capital for A$800,000, is limited to shareholders in Australia and New Zealand, with overseas investors designated ineligible under ASX rules due to legal and cost constraints. Mahe Capital has been appointed nominee to sell the rights of ineligible shareholders on ASX where possible, but the company warns there is no guarantee of a liquid market or premium, and any unsold rights will be placed under the shortfall offer with no compensation to those ineligible holders.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 per new share. The offer, partially underwritten to $800,000 by Mahe Capital Pty Ltd, is priced at a discount to recent trading levels, includes tradeable rights on ASX, and is supported by all directors, giving existing investors a discounted, low-cost opportunity to maintain or increase their holdings while bolstering the company’s capital position.
The rights issue is open to shareholders with registered addresses in Australia and New Zealand as at the 6 March 2025 record date and excludes investors in the United States. Eligible shareholders must access the prospectus and personalised entitlement forms online via the Automic investor portal and complete payment electronically, with the offer scheduled to close at 5:00 pm Sydney time on 25 March 2026, reinforcing the company’s shift toward fully digital shareholder communications.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 shareholders in Australia and New Zealand can apply electronically, with entitlements also tradeable on ASX until 18 March 2026 under code MGTRH.
Each new share is priced at 4 cents and comes with a free option exercisable at 8 cents with a 2.5-year term, and the company plans to seek ASX quotation for these options on a deferred settlement basis from 2 April 2026. The options have indicative values under the Black–Scholes model, highlighting additional potential value for participants and reinforcing the company’s focus on securing funding via a shareholder-supported capital structure.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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 current capital-raising process and supporting ongoing development of its large-scale magnetite and critical minerals portfolio in South Australia.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 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.