Latest Magnetite News

Magnetite Mines has opened a partially underwritten share purchase plan targeting approximately $1 million from eligible Australian and New Zealand shareholders. Investors who receive shares will also be entitled to one free listed option per share, subject to shareholder approval.

Unity Metals has extended its Camp stockwork gold discovery in Cambodia by 35 metres to the northeast, with a new hole returning 1 metre at 10.2 grams per tonne gold. The mineralisation remains open at depth and along strike, although a nearby southwest test returned no significant intersections.

Magnetite Mines has warned that its existing cash is insufficient to fund planned activities for the next 12 months, while auditors highlighted a material uncertainty over the company’s ability to continue as a going concern. The ASX-listed miner is cutting costs and reshaping Razorback around a lower-capital development pathway.

Reedy Lagoon is relying on shareholder approval for a $1.8 million underwritten placement after ending the year with $44,416 in cash and a material uncertainty over its ability to continue as a going concern. The recapitalisation would fund exploration, but comes with substantial dilution and a staged repayment of related-party debt.

Hawthorn Resources reported a wider Australian-dollar loss for FY2026, with revenue falling sharply and cash declining by $1.53 million. The company is directing its remaining balance sheet toward exploration at the Trouser Legs gold joint venture and Mount Bevan’s other minerals project.

Independent LONGi testwork has produced 66.3% to 68.0% Fe magnetite concentrates from four Magnetite Range samples using a bench-scale dry flowsheet. The results strengthen the case for a water-efficient route in Accent Resources' pre-feasibility study, but remain preliminary and untested at pilot scale.

Athena Resources has expanded its Byro Magnetite Project resource to 76.3 million tonnes and begun drilling at Narryer, the prospect earmarked for potential early development. The progress came with a $1.11 million FY2026 loss, a non-binding joint venture and fresh funding still supporting an exploration-stage business.

Tempest Minerals has reported a $4.62 million FY2026 loss after impairing $3.28 million of exploration assets, while cash fell to $969,693. The company retains exposure to Range gold drilling, the Remorse iron deposit and a $3.08 million Capricorn Metals shareholding, but says further funding will be needed to sustain exploration.

Juno Minerals has completed the sale of its Mount Mason project for A$6 million plus a 2% production royalty, but the buyer has pushed development into 2027. The company is now concentrating on finding a partner for its large, capital-intensive Mount Ida magnetite project.

Temas Resources and SAGA Metals have begun an eight-week optimisation program aimed at turning strong laboratory recoveries into a defined processing flowsheet and first high-purity titanium, vanadium and iron products. A successful stage could lead to a C$650,000-C$750,000 mini-pilot, although that funding remains subject to technical results and SAGA approval.

Lincoln Minerals has moved Minbrie’s Eagle Ridge prospect towards diamond drilling after air core work supported its geological model. But the ASX-listed explorer remains loss-making, cash-burning and dependent on further funding to continue its exploration program.

Magnetite Mines is seeking up to A$1.5 million through a discounted share purchase plan and potential top-up placement to advance the Razorback green iron project. The raise offers free options, but also highlights the company’s continuing reliance on external funding and future strategic partners.