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Latrobe Magnesium Limited (ASX:LMG)

ALERT: Price-sensitive ASX Announcement for LMG
Current share price for LMG : $0.015 -0.016 (-51.61%)+
Announcement
Release
29 Oct 2025 9:00AM
Price at Release
$0.031
Full Release
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Summary
Latrobe Magnesium Limited (LMG) has reported significant progress in their operations for the quarter ending 30 September 2025. LMG successfully commissioned and started its Demonstration Plant in Victoria for extracting magnesium oxide (MgO) from brown coal ash. The company has secured multiple financial boosts, including a $6 million placement and a fully underwritten $4 million rights issue. Additionally, LMG received a Letter of Interest from the U.S. Export Import Bank for up to AUD $200 million to support their Stage 2 Commercial Plant, which aims for a production capacity of 10,000 tonnes per annum. Operationally, LMG is focusing on ramping up its Demonstration Plant, with plans to transition to steady-state operations and initial product deliveries. The company also made strides in its international projects, with their subsidiary in Malaysia obtaining legal clearance to import essential feedstock and ongoing preparations for a large-scale International ‘Mega’ Plant.
Key Points
  • EPA Victoria reissued the Pilot Project Licence for LMG.
  • Successful production of magnesium oxide at the Demonstration Plant.
  • Completion of $6M placement and $4M rights issue for supporting operations.
  • U.S. Export Import Bank issued a Letter of Interest for AUD $200M financing.
  • Ongoing development of a 10,000 tpa Commercial Plant in Victoria.
  • Legal confirmation for importing feedstock to Malaysia for the 'Mega' Plant.
  • Proceeds from surplus land sale and R&D rebate expected to aid financial stability.
  • LMG’s projects focus on recycling, reducing landfill, and low CO2 emissions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.