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Latrobe Magnesium Limited (ASX:LMG)

ALERT: Price-sensitive ASX Announcement for LMG
Current share price for LMG : $0.008 -0.002 (-20%)+
Announcement
Release
31 Jul 2026 9:28AM
Price at Release
$0.010
Full Release
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Summary
Latrobe Magnesium Limited's quarterly activities report for the period ending 30 June 2026 highlights the progress of their Phase 1B magnesium metal production, with installation and commissioning activities advancing on schedule and on budget. Key construction milestones were achieved, maintaining high safety standards. The company secured a funding agreement with Long State Investment to support their Demonstration Plant and expansion activities. The report also notes a temporary pause on Stage 2 developments due to legislative issues, while Stage 3 in Malaysia continues to move forward. Financially, the company recorded a net cash outflow from operating activities and ended the period with over $1 million in cash reserves.
Key Points
  • Phase 1B Magnesium metal installation and commissioning on schedule with 50% construction completion.
  • Zero reportable HSE incidents with a compliance rate of 97%.
  • Binding agreement with Long State Investment for up to $16M funding.
  • Progress on Stage 2 paused due to legislative issues.
  • Stage 3 International Plant development in Sarawak, Malaysia progresses.
  • Net cash used in operating activities was $893,000.
  • Cash and cash equivalents at the end of the period were $1,092,000.
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.