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Magnetite Mines Limited
(Sydney:MGT)
Magnetite Mines Limited (MGT) vs. S&P 500 (SPY)
Magnetite Mines Limited Business Overview & Revenue Model
Magnetite Mines Limited Financial Statement Overview
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 261.29K | 214.49K | 212.59K | 195.44K | 0.00 | 0.00 | Gross Profit |
| 261.29K | 214.49K | -43.09K | 88.69K | -9.19K | -9.98K | EBIT |
| -3.74M | -4.06M | -5.22M | -3.44M | -1.52M | -806.01K | EBITDA |
| -4.01M | -4.85M | -4.94M | -3.45M | -1.62M | -264.37K | Net Income Common Stockholders |
| -4.28M | -4.85M | -5.33M | -3.66M | -1.73M | -373.51K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 1.03M | 1.21M | 5.13M | 19.35M | 16.59M | 830.87K | Total Assets |
| 39.83M | 38.23M | 38.97M | 45.79M | 29.70M | 10.42M | Total Debt |
| 505.42K | 117.33K | 2.42M | 2.21M | 1.98M | 2.08M | Net Debt |
| -523.78K | -1.10M | -2.71M | -17.13M | -14.61M | 1.25M | Total Liabilities |
| 1.85M | 1.38M | 3.66M | 6.44M | 2.81M | 2.29M | Stockholders Equity |
| 37.98M | 36.84M | 35.31M | 39.35M | 26.89M | 8.14M |
| Cash Flow | Free Cash Flow | ||||
| -6.18M | -7.25M | -13.86M | -12.26M | -4.31M | -1.22M | Operating Cash Flow |
| -3.05M | -3.67M | -3.87M | -2.29M | -1.13M | -877.93K | Investing Cash Flow |
| -3.08M | -3.77M | -9.98M | -10.04M | -3.17M | -331.65K | Financing Cash Flow |
| 2.81M | 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $49.11B | 8.30 | 20.21% | 8.77% | -11.33% | -32.11% | |
71 Outperform | $219.89M | 3.75 | 5.68% | 12.10% | -15.28% | -60.99% | |
61 Neutral | C$2.34B | 16.56 | 9.30% | 4.86% | -9.27% | -56.88% | |
56 Neutral | AU$353.87M | 56.60 | -35.86% | ― | -39.92% | -249.60% | |
49 Neutral | $1.96B | -1.17 | -21.28% | 3.71% | 1.14% | -30.35% | |
38 Underperform | AU$12.70M | ― | -11.14% | ― | ― | 38.70% | |
36 Underperform | €928.02M | ― | -4.73% | ― | ― | 39.02% |
Magnetite Mines Limited Corporate Events
Magnetite Mines Limited announced the expiry of its quoted options, exercisable at $0.45, on 23 May 2025. With the current share price at $0.11, the options are out of the money, and the company will not send expiry notices to individual holders. This decision reflects the company’s strategic focus on its core operations and market positioning, as it continues to develop its Razorback Iron Ore Project to meet global demand for high-quality iron ore products.
Magnetite Mines Limited has made significant progress in the third quarter of 2025, particularly with its Razorback Iron Ore Project. The company submitted a Mining Lease Proposal to South Australia’s Department for Energy & Mining, marking a key milestone in the project’s development. Additionally, Magnetite Mines is advancing its strategic partnership with JFE Shoji Australia for funding and production offtake, while also exploring other potential partnerships. The company has filed a provisional patent for a saline water processing method, enhancing its competitive edge and commitment to sustainable mining practices. These developments position Magnetite Mines to capitalize on the increasing demand for environmentally friendly iron products amid global efforts to decarbonize iron and steelmaking.
Magnetite Mines Limited announced the issuance of 214,948 fully paid ordinary shares to directors Paul White and Simon Wandke as part of their remuneration package, following shareholder approval. This move is part of the company’s strategy to reduce cash expenditures by compensating directors with shares instead of cash, reflecting a commitment to financial prudence and aligning management interests with shareholder value.
Magnetite Mines Limited has announced the quotation of 214,948 fully paid ordinary securities on the Australian Securities Exchange (ASX) as part of an employee incentive scheme. This move is expected to enhance the company’s operational flexibility and potentially improve its market positioning by aligning employee interests with those of shareholders.
Magnetite Mines Limited has submitted a provisional patent for a saline water flotation method, which allows the production of Direct Reduction (DR) grade iron ore concentrates using saline water instead of fresh water. This innovative process could eliminate the need for large-scale desalination plants, offering significant environmental and cost benefits. The method positions Magnetite Mines as a key player in the green iron industry by providing a sustainable solution for ore processing, potentially giving the company a competitive edge in water-sensitive regions.
Magnetite Mines Limited has lodged a Mining Lease Proposal for its Razorback Project with the South Australian Department for Energy & Mining, marking a significant milestone towards production. The project aims to produce 5 million tonnes per year of premium-grade magnetite concentrates, aligning with the growing demand for green iron production. This development positions the company as a leader in the state’s emerging green iron industry, supported by a recent Federal Green Iron Fund announcement. The proposal underscores the project’s technical and regulatory maturity and its potential to contribute to economic prosperity through sustainable mining practices.
Magnetite Mines Limited announced the cessation of 669,243 performance rights due to the conditions for these rights not being met or becoming incapable of being satisfied. This development may impact the company’s capital structure and could influence investor perception regarding the company’s operational milestones and strategic objectives.
Magnetite Mines Limited has released its interim financial statements for the period ending December 31, 2024. This announcement, approved by the board of directors, provides a comprehensive overview of the company’s financial performance, including profit or loss, financial position, and cash flows. The release of these financial statements is crucial for stakeholders as it offers insights into the company’s operational efficiency and financial health, potentially impacting its market positioning and investor confidence.
Magnetite Mines Limited announced that all resolutions proposed at the Extraordinary General Meeting on March 5, 2025, were approved by the shareholders. This outcome supports the company’s strategic initiatives, including the issuance of convertible notes and shares under its Employee Incentive Plan, which may enhance its financial flexibility and stakeholder alignment.
Magnetite Mines Ltd is progressing its Razorback Iron Ore Project in South Australia, aiming to become a leading supplier of premium iron ore products. The company has made significant strides in securing strategic partnerships, notably with JFE Shoji Australia, and is working towards finalizing agreements to fund a Definitive Feasibility Study and achieve a Final Investment Decision. The recent establishment of a $1 billion Green Iron Fund by the Australian government supports early green iron projects and enhances investor confidence. Magnetite Mines is seeking shareholder approval for additional funding to advance its Mining Lease Proposal and maintain financial flexibility.