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Latrobe Magnesium Limited (ASX:LMG)

ALERT: Price-sensitive ASX Announcement for LMG
Current share price for LMG : $0.010 -0.01 (-50%)+
Announcement
Release
30 Jan 2026 9:45AM
Price at Release
$0.020
Full Release
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Summary
Latrobe Magnesium Limited reported on its quarterly activities ending 31 December 2025, highlighting the resolution of a coating defect on a crucial fan component, enabling the restart of operations at its Demonstration Plant. The company also resumed Magnesium Oxide production and received significant R&D tax incentive funds, which were used to reduce debt. Additionally, the company received financial support indications for its commercial plant and continued progress on international expansion projects. Financially, LMG reported a net cash increase due to positive operating cash flow and financing activities, although it continues to manage remaining liabilities and plans further funding efforts.
Key Points
  • Investigation and rectification of coating adhesion defect on Spray Roaster fan completed.
  • Magnesium Oxide production resumed in February 2026.
  • Received $6.3M in R&D tax incentives from ATO.
  • Received Letters of Support for future financing from Export Finance Australia and U.S. Export-Import Bank.
  • Progress in international plant expansion in Sarawak, Malaysia.
  • Net cash from operating activities was $4.410 million.
  • Cash and cash equivalents at the end of the quarter were $4.519 million.
  • Payments of $80,000 made to directors for services during the quarter.
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.