Latest Magnetite Mines (ASX:MGT) News

Magnetite Mines Limited has announced a renounceable rights issue aiming to raise up to $3.92 million to fund exploration across its South Australian tenements and advance the Razorback Iron Ore Project, recently awarded Major Project Status.

Deal headlines and big drill hits shared the stage with a brutal sell-off in a handful of tiny raisings. The week’s biggest winners were backed by clear news; the biggest losers showed what happens when buyers vanish after a halt.

Small caps stole the spotlight, with a handful of stocks doubling on deal news and early-stage project updates. Large miners were steadier, but even they couldn’t fully escape the week’s sharp gap moves.

Magnetite Mines’ Razorback Iron Ore Project has been granted Major Project Status by the Australian Government, recognising its national economic importance and unlocking enhanced regulatory support for the next three years.

Magnetite Mines has secured all necessary permits to commence drilling at its Ironback Hill Rare Earth Element Project, aiming to expand on promising mineralisation discovered last year.

Magnetite Mines broadens its strategic partnerships and progresses key approvals for the Razorback Iron Ore Project, while uncovering new rare earth mineralisation and expanding its green iron consortium.

Magnetite Mines Limited has been granted a new exploration licence adjacent to its Ironback Hill rare earth element project, expanding its strategic footprint in South Australia’s Braemar Iron Region. The licence offers promising optionality for future rare earth exploration while the company maintains focus on its core iron ore development.

Magnetite Mines has cleared a crucial regulatory hurdle as its Razorback Iron Ore Project’s Mining Lease Proposal passes the South Australian Government’s validity assessment, paving the way for detailed technical review and public consultation.

Magnetite Mines Limited has confirmed additional near-surface rare earth mineralisation at its Ironback Hill Project in South Australia, setting the stage for a targeted drilling campaign in early 2026.

Magnetite Mines has made significant strides in developing its Razorback Iron Ore Project, securing $3.86 million in new funding and uncovering promising rare earth mineralisation at Ironback Hill. The company continues to navigate strategic partnerships and regulatory approvals to advance its long-life magnetite project.

Magnetite Mines Limited’s MGTOF securities have been reinstated to ASX quotation following compliance with key listing rules, marking a significant regulatory milestone for the iron ore miner.

Magnetite Mines has successfully closed a fully subscribed $2.65 million rights issue, followed by a $1.214 million placement, positioning the company to advance its Razorback Iron Ore Project and explore broader mineral opportunities.