공시 • Mar 03
Magnetite Mines Limited has filed a Follow-on Equity Offering. Magnetite Mines Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Price\Range: AUD 0.04
Transaction Features: Rights Offering 공시 • Oct 28
Magnetite Mines Limited, Annual General Meeting, Nov 26, 2025 Magnetite Mines Limited, Annual General Meeting, Nov 26, 2025. Location: in the torrens room 1, hotel grand chancellor, 65 hindley street, adelaide Australia 공시 • Aug 08
Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 2.65 million. Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 2.65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,692,308
Price\Range: AUD 0.065
Discount Per Security: AUD 0.0039
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,076,923
Price\Range: AUD 0.065
Discount Per Security: AUD 0.00065
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Nov 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.8m (US$9.06m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 40% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m (AU$214k revenue, or US$140k). Market cap is less than US$10m (AU$13.8m market cap, or US$9.06m). 공시 • Oct 29
Magnetite Mines Limited Announces Resignation of Jim Mckerlie as Director Magnetite Mines Limited advised that Mr. Jim McKerlie will resign as a Non-Executive Director at the Company's upcoming Annual General Meeting (AGM) due to personal commitments and other business interests. Mr. McKerlie joined the Board in January 2022 as a Non-Executive Director. He then served as Chair of the Board from September 2023 to September 2024 before transitioning back to a Non-Executive Director role. New Risk • Sep 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m (AU$236k revenue, or US$161k). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (33% increase in shares outstanding). Market cap is less than US$100m (AU$18.4m market cap, or US$12.5m). 공시 • Sep 03
Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 4.1 million. Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 4.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.2
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,500,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.002
Security Features: Attached Options
Transaction Features: Rights Offering 공시 • Jun 21
Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 5.085792 million. Magnetite Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 5.085792 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,405,781
Price\Range: AUD 0.31
Transaction Features: Rights Offering New Risk • May 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.7m free cash flow). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m (AU$236k revenue, or US$155k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (AU$34.9m market cap, or US$23.0m). New Risk • Mar 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.7m free cash flow). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m (AU$186k revenue, or US$123k). Minor Risks Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (AU$26.6m market cap, or US$17.6m). New Risk • Nov 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$213k revenue, or US$140k). Minor Risks Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (AU$31.0m market cap, or US$20.4m). 공시 • Oct 23
Magnetite Mines Limited, Annual General Meeting, Nov 23, 2023 Magnetite Mines Limited, Annual General Meeting, Nov 23, 2023, at 10:00 Cen. Australia Standard Time. Location: David Spence Room Adelaide Town Hall, 128 King William Street, Adelaide Adelaide Australia Agenda: To consider the Non-Binding Resolution to adopt Remuneration Report; to consider the Election of Dr. Carmen Letton as a Director; to consider the Approval to issue Performance Rights and Options to Chief Executive Officer, Tim Dobson; to consider the Approval of Additional 10% Placement Capacity; to consider the Board Spill Meeting Resolution; and to consider other matters. New Risk • Oct 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$213k revenue, or US$134k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$31.9m market cap, or US$20.1m). New Risk • Sep 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$17m free cash flow). Earnings have declined by 6.1% per year over the past 5 years. Revenue is less than US$1m (AU$254k revenue, or US$162k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$27.3m market cap, or US$17.4m). 공시 • Jul 06
Magnetite Mines Limited Announces the Appointment of Simon Smith as Chief Financial Officer, Commencing September 2023 Magnetite Mines Limited announced the appointment of Mr. Simon Smith as Chief Financial Officer (CFO), commencing September 2023. Simon is a highly accomplished CFO and Company Secretary with extensive experience in both ASX and TSX listed companies. He has played a pivotal role in the leadership and strategic direction of growth-driven companies, effectively driving their financial success. Simon has successfully led the execution of capital raisings totalling over AUD 500 million, encompassing both debt and equity financing, as well as initial public offerings (IPOs). Simon is a member of the Australian Institute of Chartered Accountants and was most recently the CFO of Energy Action Limited. Prior to that, he was CFO and Company Secretary of ASX-listed Heron Resources Limited, overseeing the $340 million project financing and commercial development of the Woodlawn Zinc Copper Mine in NSW through to full scale operations. 공시 • Jun 27
Magnetite Mines Limited Launches Foothight Sustainability Platform Magnetite Mines Limited launched foresight, the Company's sustainability platform driving ESG-related actions through the project study, design, delivery and operational stages. As the existing iron ore sector seeks to transition to a new future centered on sustainable practices, Magnetite Mines intends to emerge as a new producer of premium-grade iron ore to meet the demand of the decarbonizing steel industry, with a collaborative and focused sustainability culture embedded from the outset. By bringing focus to Magnetite Mines' leading ESG profile, the company can design and showcase a sustainable mining future with the objective of becoming an iron ore supplier of choice. project delivery must demonstrate pathways to net zero carbon operations, nature-positive outcomes, actions that support the building of resilient, inclusive communities and adaptive governance. adoption of, and alignment with, global standards, such as the Initiative for Responsible Mining Assurance (IRMA), will demonstrate credibility as responsible operators and support attractiveness to customers. foresight is intended to become a key identifier and differentiator for Magnetite Mines, and an essential component of the Company's strategy for engaging with project partners, financiers, regulators and other stakeholders. MGT recognizes that embedding sustainability within its business provides a significant competitive advantage and opens opportunities for new value creation. A meaningful commitment to responsible resource development across environment, social and governance (ESG) aspects can commonly deliver: reduced cost of capital, insurance, etc.; market opportunities, particularly for supply chains where product assurance is critical (i.e., ResponsibleSteel); cost efficiencies associated with sustainable practices and collaboration; efficient attraction and retention of labor; improved environmental performance and compliance outcomes; and engaged and supportive communities and stakeholders. Recent Insider Transactions • Feb 16
Non-Executive Director recently bought AU$99k worth of stock On the 13th of February, Paul White bought around 124k shares on-market at roughly AU$0.80 per share. This transaction increased Paul's direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$149k more in shares than they have sold in the last 12 months. 공시 • Jan 25
Magnetite Mines Limited Announces Appointment of Carmen Letton as Non-Executive Director Magnetite Mines Limited announced the appointment of Dr. Carmen Letton as Non- Executive Director, effective immediately. Dr. Letton is a mining engineer and mineral economist with over 35 years' global mining experience, holding senior leadership positions in operations, engineering, asset and business development and corporate strategy. She has particular technical expertise in open pit and underground mines across multiple commodities and the many stages of asset development. Most recently, Dr. Letton was Head of Resource Development and Life of Asset Planning (Asset Strategy Development) at Anglo American, having previously worked at BHP Billiton, Rio Tinto, Newmont, and Newcrest. Dr. Letton was selected as one of the "100 Global Inspirational Women in Mining" in 2016 and 2018 by Women in Mining UK. She holds a PhD Mineral Economics from the University of Queensland and a Bachelor of Engineering (Hon) (Mining) from the West Australian School of Mines. 공시 • Jan 17
Magnetite Mines Limited Provides Update on Razorback Project Optimisation Studies Magnetite Mines Limited provided a progress update on the optimisation studies commenced in September 2022 and scheduled for completion by the end of first quarter 2023. As announced on 13 September 20221, the Company refocused its Razorback Iron Ore Project (Project) development strategy in line with evolving market conditions and downstream industry feedback. A suite of optimisation studies were commenced aimed at defining the go-forward scope for a refocused DFS (Definitive Feasibility Study). The key objectives of the optimisation studies are to: Increase and optimise Stage 1 production, with a minimum 5Mtpa capacity, to enhance project economics via economies of scale, while taking advantage of the 5.7 billion tonne Project resource base; Increase Project attractiveness to potential iron and steel industry partners and customers, institutional investors, and project financiers; Access potential to re-estimate Ore Reserves as a direct result of expanded production scale; and Improve ESG credentials through enhanced concentrate specifications that support downstream iron and steelmaking decarbonisation, and potential electrification of major equipment supported by larger-scale development. The Company reported that all studies are progressing to plan, with initial AACE Class 5 engineering estimates received on time from the Company's engineering partners. A staged development philosophy has been maintained throughout, commencing with a manageable but robustly economic start-up capacity, expanding thereafter to meet market demand. Key Study outcomes achieved so far which are subject to further testing include: Plant Optimisation: Magnetite processing specialists Hatch are leading the plant optimisation studies with respect to assessing larger scale production scenarios. A key focus of these studies has been the assessment of alternative front-end crushing options and the investigation of opportunities for early-stage rejection of waste and low-grade material via dry magnetic separation. Hatch are also completing parallel studies with respect to tailings storage facility configurations, with both conventional and thickened tailings options currently being investigated. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Mal Randall was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Mal Randall was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Dec 05
CFO & Company Secretary Frank DeMarte has left the company On the 3rd of December, Frank DeMarte's tenure as CFO & Company Secretary ended after 8.3 years in the role. As of September 2021, Frank still personally held 16.53m shares (AU$413k worth at the time). Frank is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Board Change • Aug 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Mal Randall was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 