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Latrobe Magnesium (LMG) investor relations material
Latrobe Magnesium Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
EPA Victoria reissued the Pilot Project Licence, confirming compliance and readiness for operations at the Demonstration Plant.
Successful commissioning and start-up of the world-first Demonstration Plant for extracting MgO from brown coal ash, with continuous operations commencing in September 2025.
Production of MgO validated the proprietary process, with over 200 tonnes of ash processed and seven tonnes of MgO produced by quarter-end.
By-products such as char/silica, iron oxide, and agricultural lime were also produced, with samples prepared for validation trials.
Environmental noise and air emissions testing confirmed compliance with EPA standards.
Significant events and developments
Temporary plant shutdown occurred due to coating delamination on the Spray Roaster's gas transport fan; repairs prioritized and operations expected to resume promptly.
LMG received a U.S. EXIM Bank Letter of Interest for up to USD $122M financing for the Stage 2 Commercial Plant.
LMG submitted a proposal to the U.S. Department of Defense for critical minerals supply chain support.
Legal proceedings with Mincore Pty Ltd advanced, with mediation ongoing and early evidence phase initiated.
Financial highlights
$6M placement completed and $4M fully underwritten rights issue underway to fund Demonstration Plant commissioning and magnesium metal production.
Cash at bank as of 30 September 2025 was $323K, increasing post-quarter with new capital raised.
Estimated $6.3M R&D rebate submitted, with payment expected in November 2025.
Proceeds from surplus land sale expected to generate up to $3M, to be used for debt repayment.
Net cash used in operating activities for the quarter was $980K; net cash used in investing activities was $1.12M.
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