MAGNETITE MINES LIMITED.
ASX:MGTMaterialsToday’s holders own 61.3% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 100% in 24 months; 6 cash raises in 24 months
MAGNETITE MINES LIMITED's ordinary share count grew 100.3% between October 2024 and July 2026, its latest share-count filing, to 229M shares. The company raised capital six times in the past 24 months for total disclosed proceeds of A$15.4M, most recently a Share Purchase Plan and Top-up Placement raising A$1.3M in September 2026. Options and rights on issue could convert into 144M new shares, equal to 63.0% of the current share count, with none currently in the money at the current share price; the nearest expiry falls in October 2027. The company has under 2 quarters of funding at the recent spend rate. Two proposed securities issues (Appendix 3B) are pending, with an expected issue date in November 2026.
Quick answers · 6
Why was MGT in a trading halt?
Magnetite Mines requested a trading halt on 26 Oct 2026, giving the reason "Pending release of announcement regarding a proposed placement of shares to ensure orderly market and informed trading". Trading was expected to resume 28 Oct 2026.
Is MGT raising capital?
Magnetite Mines has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Share Purchase Plan and Top-up Placement of $1.3M on 28 Sept 2026.
How much placement capacity does MGT have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does MGT have?
In its quarterly cash report for the quarter ended 30 June 2026, Magnetite Mines reported $2.0M of cash and estimated 2.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do MGT's options expire?
Unexercised options and rights equal 63% of Magnetite Mines's shares on issue; the nearest expiry is Oct 2027.
How much has MGT's share count grown?
Magnetite Mines has 229.0M shares on issue as at 28 Oct 2026, up 100.3% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 2 July 2026 | 2A · quoted issue | MGT : ORDINARY FULLY PAID | 229.0M | Appendix 2A |
| 26 June 2026 | 2A · quoted issue | MGT : ORDINARY FULLY PAID | 227.9M | Appendix 2A |
| 26 June 2026 | 3H · cancellation | MGT : ORDINARY FULLY PAID | 227.0M | Appendix 3H |
| 4 May 2026 | 2A · quoted issue | MGT : ORDINARY FULLY PAID | 227.0M | Appendix 2A |
| 2 Apr 2026 | 2A · quoted issue | MGT : ORDINARY FULLY PAID | 225.5M | Appendix 2A |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
6 cash raises in the last 24 months · 2 in the last 12 months
Retail offer
An offer existing holders can take part in — the one structural advantage retail has in a raise. Dated recently and not yet recorded as complete.
Closing dates are not in the filings this site holds. Check the company's own announcement below before acting on this.
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
An exercise price is on record for only 22.7% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.012 today. No more priced supply until 10× today’s price, which takes it to 13.4M (5.8% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 111.5M (77.3% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
- 19.4M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MGTOA | Options | Price-triggered, no exercise price stated | — | 2 Oct 2027 | 16.6M | Filing |
| MGTOF | Options | Price-triggered, no exercise price stated | — | 5 Mar 2028 | 63.4M | Filing |
| MGTAJ | Options | Price-triggered | $0.15 | 7 Mar 2028 | 8.1M | Filing |
| MGTAT | Options | Price-triggered | $0.13 | 19 May 2028 | 2.9M | Filing |
| MGTAU | Options | Price-triggered | $0.12 | 30 June 2028 | 1.2M | Filing |
| MGTOG | Options | Price-triggered, no exercise price stated | — | 1 Oct 2028 | 31.5M | Filing |
| MGTAQ | Options | Price-triggered | $0.56 | 5 Dec 2029 | 914k | Filing |
| MGTAF | Options | Price-triggered | $0.56 | 5 Dec 2029 | 1.1M | Filing |
| MGTAH | Options | Price-triggered | $0.23 | 6 Dec 2030 | 5.2M | Filing |
| MGTAW | Options | Price-triggered | $0.090 | 5 Dec 2031 | 13.4M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
- MGTACPrice-triggered168k securities → 04 Feb 2026 Appendix 2A
- MGTAIconvertible notes2.7M2 July 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 2 July 2026 | Paul White | Other | 818k | — | — | $23k | 3Y notice |
| 2 July 2026 | Simon Charles Wandke | Other | 273k | — | — | $8k | 3Y notice |
| 1 Apr 2026 | Paul White | Other entitlement/SPP | 844k | 375k | — | $15k | 3Y notice |
| 1 Apr 2026 | Simon Charles Wandke | Other entitlement/SPP | 283k | 75k | — | $3k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.