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Trades about 105% below its sector, cheaper than its peers on earnings.
Magnetite Mines Limited (MGT.AX) is an Australian enterprise primarily engaged in the exploration of mineral deposits across South Australia. Its flagship asset is the Razorback Iron project, which incorporates the Razorback Ridge, Iron Peak, and Ironback Hill deposits, all situated in the Adelaide region of South Australia. The firm, established in 2004, operated under the name Royal Resources Limited until December 2015, when it officially became Magnetite Mines Limited. The company's principal office is located in Wayville, Australia.
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