# LMG - Latrobe Magnesium



## JFK (2 March 2006)

Noticed over the last 2 days LMG's buying depth has been growing, also IMP, they look good.


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## YOUNG_TRADER (2 March 2006)

*Re: LMG, been looking at market depth , welling*

I'd strongly advise that you take a look at what LMG does, then if you are still impressed with the stock please reply


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## YOUNG_TRADER (2 March 2006)

*Re: LMG, been looking at market depth , welling*

Also the fact 80m shares were just issued @ 0.006 doesn't tell you something?

Its called false depth build up, intended to lure unsuspecting investors on to the depth queues and then whammoooo the 'Sophisticated Investor' Dumps his 80m shares (but not until amazingly all of the false buy orders are pulled off)

Same thing happens with MUL all the time, my advice better value at the TAB.


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## imajica (1 May 2006)

A bit of interest in this one lately. Almost finished their bank feasibility study for their project. They are going to build a factory that will collect fly ash from coal power plants and extract the magnesium. Hopefully, when it is up and running, it will be able to produce 100,000 tonnes of magnesium a year. Essentially it is turning a waste product into a profitable resource. 

They will hopefully begin construction of the production plant in 2007 with full production predicted by 2010. 

Although a long term buy, at 1.7 cents per share (and a market cap of about 7 million) it seems ridiculously cheap at current prices. In a few years as we draw nearer to production I can see this stock climbing to a few dollars.

I have recently bought a punt amount for the long term.

Good luck to all LMG holders


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## imajica (1 May 2006)

I understand that in the short term there will be volatility, but ultimately I intend to hold this stock long term. (ie-a few years).


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## alankew (18 January 2007)

Imajica are you still on these? Been looking at penny shares of between 1 to 2 c and this one came up. Dont know what they do or if anything is about to happen but in the last couple of days they have gone up about 30% only to retrace.Any one have any more info or insight into them?


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## imajica (18 January 2007)

Got impatient with these a while back - decided to follow INL at  the moment as they will be producing cash flow as of this month.

LMG aim at recycling factory emissions and turning them into saleable magnesium units - will be at least 3 or 4 years before any money rolls in though -  I just got impatient - should be a good long term hold


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## alankew (18 January 2007)

Do you know if there is anything due in the near future re an announcement.As i said they have gone up in the last few days with heavy volume on one particular day and wondered if someone is buying in before an announcement


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## alankew (19 January 2007)

Up again today,possible breakout.From looking at the company website last night i believe they have a BFS due sometime soon but cant find the link now.Anyone have any thoughts.I hold


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## alankew (19 January 2007)

Should have added that volume so far today is 10million-not a lot in monetary terms but substantially higher for the last 6 days which have already been higher than usual.Anyone interested in this,YT any thoughts-I know you were not imressed last time you commented,any change now


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## alankew (19 January 2007)

Found the missing link in page 12 of AGM mentions that the Bangemall exploration project should have application granted in the early New Year>Report says that this area has the prospect of Uranium(evryone sits up and takes notice!)and gold.Area selected because of regional mineralisation and  previouse BHP work and also Abra Mining


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## Ang (13 March 2007)

*LMG*

Any one got any news on LMG (Latrobe)  ??


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## Ang (14 March 2007)

Well when every thing else was going down this closed unchanged today. I don't know if any one else uses Market Depth to measure if the stock is going up or down, however in the whole day today there were 8M more buyers than sellers. i wouldn't be surprised that this breaks tommorow. A break of 2.4 cents and i will be all over it. Any one else with info on this one??
Here is my view on this one any way.
kind regards
Ang


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## Sean K (14 March 2007)

Ang said:
			
		

> Well when every thing else was going down this closed unchanged today. I don't know if any one else uses Market Depth to measure if the stock is going up or down, however in the whole day today there were 8M more buyers than sellers. i wouldn't be surprised that this breaks tommorow. A break of 2.4 cents and i will be all over it. Any one else with info on this one??
> Here is my view on this one any way.
> kind regards
> Ang



Looks to be a potential breakout to me. Interesting.


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## alankew (14 March 2007)

See post 11,could be news leaking about the above mentioned info


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## Ang (14 March 2007)

alankew said:
			
		

> See post 11,could be news leaking about the above mentioned info



What profit target do you get??
ang


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## krisbarry (15 March 2007)

Offically a break-out today


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## Ang (15 March 2007)

Any one with any thoughts on a profit target on this one? I get 3.1 to 3.5 cents and possibly 4 cents.
Kind regards
Angelo


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## Joe Blow (15 March 2007)

Ang said:
			
		

> Any one with any thoughts on a profit target on this one? I get 3.1 to 3.5 cents and possibly 4 cents.




Angelo, can you explain how you arrived at your valuation.


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## alankew (15 March 2007)

Not sure Ang but as i mentioned in previous post buying was probably to do with Uranium ann.Ann now out http://imagesignal.comsec.com.au/asxdata/20070315/pdf/00703161.pdf


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## Ang (15 March 2007)

Joe Blow said:
			
		

> Angelo, can you explain how you arrived at your valuation.



The attached Graph say's it all. I picked this up as two trading paterns Acsending triangle and Soucer break out. The botom of the triangle shows a low of .007 with the top of the triangle showing the 2.4 cent break out. The simple mathermatics is the depth of the bottom of the triangle and the top = 4.1 cents. It can also be said that the average price has been 1.6 cents so the lower target is the depth of 1.6 cents and 2.4 cents = which gives 3.2 cents. I always go below the target by 1 or 2 points. The 3.5 cents is my initial target between my low profit target of 3.1 cents and 4 cents.

Joe I hope you didn't think I was Ramping???????  

Over to you know what do you think of my targets, are yours simmilar to mine??

Regards 
Angelo


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## Ang (15 March 2007)

A larger graph


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## krisbarry (16 March 2007)

I expect this to run hard today, with a Uranium Lincence Grant announcement after the close of market yesterday.


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## wotthe (16 March 2007)

Stop_the_clock said:
			
		

> I expect this to run hard today, with a Uranium Lincence Grant announcement after the close of market yesterday.



still waiting ...


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## petee (16 March 2007)

I read here and particularly hotcopper in amazement???they all think it would run hard today???why???its in its infant stage of Uranium leases..there are a dozen or so U companies that have been granted leases and havent run yet....and i may add far better companies than LMG....i think it will come back b4 it runs anywhere..DYOR


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## wotthe (16 March 2007)

petee said:
			
		

> ....and i may add far better companies than LMG....




What is it you don't like about LMG? It seems to be on to a good thing with the flyash ... the uranium side is  a bit of a bonus


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## petee (16 March 2007)

wotthe said:
			
		

> What is it you don't like about LMG? It seems to be on to a good thing with the flyash ... the uranium side is  a bit of a bonus



i dont like the management and the large amount of shares on issue..also like i said there r far better U plays on the market..this is my opinion only and id expect a retrace back to under 2...DYOR


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## Ang (16 March 2007)

petee said:
			
		

> i dont like the management and the large amount of shares on issue..also like i said there r far better U plays on the market..this is my opinion only and id expect a retrace back to under 2...DYOR



Forget the Uranium, the Ash deal is far better and there may be better uranium stocks out there, however not one like this that has the chart heading in the right direction. Forget the fundimentals, aren't we chart specialists and this should close in the 3 cent range today.
regards
Ang


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## Ang (16 March 2007)

Interesting to see a lot of stocks this afternoon not wanting to close on the high. Lucky I got half out of this stock this morning, however with 95M shares traded and trend channel deviation up today I think there still should be some more in this one next week.
Kind regards
Angelo


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## DionM (16 March 2007)

It looked like it was going to run early on, then petered out.

Interesting.


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## Ang (17 March 2007)

Ang said:
			
		

> Interesting to see a lot of stocks this afternoon not wanting to close on the high. Lucky I got half out of this stock this morning, however with 95M shares traded and trend channel deviation up today I think there still should be some more in this one next week.
> Kind regards
> Angelo



Any one still holding this one?
regards
Ang


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## Ang (18 March 2007)

petee said:
			
		

> i dont like the management and the large amount of shares on issue..also like i said there r far better U plays on the market..this is my opinion only and id expect a retrace back to under 2...DYOR



What do you mean by the large amount of shares on issue, my records show 530M, I concider over 1billion as too risky. The management has just restructured and they have a new MD who specialises in the resouce sector.
Kind regards
Ang


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## Sean K (18 March 2007)

Ang said:
			
		

> they have a new MD who specialises in the resouce sector.
> Kind regards
> Ang



 LOL. This is a resource company right? LMFAO! Good luck!


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## wotthe (18 March 2007)

Does anyone have a prediction on where LMG will head this week?


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## Sean K (18 March 2007)

wotthe said:
			
		

> Does anyone have a prediction on where LMG will head this week?



Wotthet, this type of request is fraught with potential for two things: an utter ramp, or downramp. How can anyone possibly know where this is going to be by the end of the week? Please stick to fundamental or technical analysis here, not tarot card reading. Cheers.


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## wotthe (18 March 2007)

kennas said:
			
		

> Wotthet, this type of request is fraught with potential for two things: an utter ramp, or downramp. How can anyone possibly know where this is going to be by the end of the week? Please stick to fundamental or technical analysis here, not tarot card reading. Cheers.



I thought you guys with the magic charts were good at this stuff ... why so tense?


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## Sean K (18 March 2007)

wotthe said:
			
		

> I thought you guys with the magic charts were good at this stuff ... why so tense?



Roger, I see your point. Please understand that time frames and price predictions are not something taken lightly here. Asking for both, is asking to see next weeks lotto numbers.


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## wotthe (18 March 2007)

kennas said:
			
		

> Roger, I see your point. Please understand that time frames and price predictions are not something taken lightly here. Asking for both, is asking to see next weeks lotto numbers.



Fair enough ... lotto numbers were my next request ...  

Guess we'll just have to wait and see ..


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## DionM (18 March 2007)

kennas said:
			
		

> Roger, I see your point. Please understand that time frames and price predictions are not something taken lightly here. Asking for both, is asking to see next weeks lotto numbers.




Man, you guys have them as well?


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## Sean K (18 March 2007)

DionM said:
			
		

> Man, you guys have them as well?



I can only give them out via PM though, so let me know which dates you're after and I'll send them through.


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## wotthe (22 March 2007)

Up to 2.7 with the number of buyers steadily increasing ... it's kind of nice to see a shift in the balance of buyers and sellers


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## Ang (8 April 2007)

Get ready for this one this week should see it get close to the break of 3.2 cents, then she will fly. Held well on thursday on 2.7 cents
Kind reg
Ang


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## Ang (10 April 2007)

Looking good this morning hit the 3.2 cent mark, with strong on balance volume still with more sellers than buyers. Will be interesting in the close today if it can break the 3.2 cents. This will then make it for an interesting open tomorrow.
kind regards
ang


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## Ang (18 April 2007)

Anyone get on the break of this one today, no announcement and all the trade was done at closing. I had two patterns on this one a break of an ascending triangle a couple of months ago and now a break of the darvas box of 3.2 cents. These guys are into Gold and Uranium exploration, I wouldn't be surprised that there is some sort of announcement regarding Uranium. Any one got any ideas? My target is 4.4 cents based on boxes depth. Any other thoughts?
kind regards
ang


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## clowboy (18 April 2007)

4.4 cents will do me fine.

Got on again a couple of days ago.

Lost money last trade on this one so a winner this time would work a treat


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## Ang (19 April 2007)

Should open at 3.5 cent the close of yesterday. I am not sure what the metal prices overnight will do to this one, however market depth still looks strong, as it is only yesterday it broke.
Kind reg
ang


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## wotthe (16 May 2007)

Does anyone know what's happening with LMG's core business, which is the fly-ash/magnesium operation?

Seemed to me the last ann suggested the feasibility study had been postponed due to the current status of the magnesium market. (I hope I read it wrong ..)

If that's the case, where to from here?


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## Ang (16 May 2007)

If you a technical trader you should already be out if your a fundmental trader you should be already out, if you are gambler or live in hope trader hang in there. LOL .
Like I said I was out of this, graph looking sick for me. However you need to make your own call on this one.
kind reg
ang


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## YOUNG_TRADER (15 May 2008)

Hey guys,

This spec dog may be worth a look, then again it may not, depends on your risk profile


Company appears to be a high risk spec play which could turn out to also be a multi bagger if they can get the project going

It seems they have been bogged down doing nothing for ages with their Magnesium project and I'm guessing alot of that was to do with the fact that with depressed magnesium prices their operation was marginal at best

Anyhoo it appears that rising magnesium prices have now made thier project viable

*Key Risks* 
*1. Funding company appears broke
2. Cap Ex = $25m for project*

*Key Rewards* 
*1. NPV of the project is 4c - 16c
2. Spot price of Magnesium has really rallied last few months
3. Possible CHinese offtake/funding*



DYOR guys, I've grabbed a few and tucked them away in case they ever do pull this off

Not much else to say, did I mention its risky? :


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## tigerboi (15 May 2008)

Looked at them a few times myself YT as a multi bagger,but i just cant see it for now,got about $560,000 cash with 530m shares,gunna ned to get some more coin soon i reckon,for me they need to hit 2.5c to really have a chance...tb as you did say high risk spec...


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## Dr.Stock (15 May 2008)

I`ve looked at it too but wouldn`t they try to raise the coin thru china and the latrobe project(see brokers report asx)????????????
or am I way off beam either way june was the goal for discussion


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## Gekko (15 May 2008)

YT I'm on board with you mate 

I know the risks but the rewards look potential great.

Top announcement just out too highlighting the fact that the Magnesium Price is at an all time high

You little ripper!!!!


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## prawn_86 (15 May 2008)

Have they built their plant? or will it be 12 months from now before they start producing?

What happens if the price drops back to uneconomical when they are half way through building their plant?

Im at work so cant do any research.

thanks guys


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## YOUNG_TRADER (15 May 2008)

Hey Prawn,

To start with I have to emphasie this company is what it is, a spec company that offers real high potential returns but carries with it high levels of risk, for me its definately one to have a few $ in and bottom draw to see if they pull the project off

Re the actual project, lol your joking right? They're nowhere near production and it will take 12months to build the plant,

Re pricing, if you take an avg price from 2004-2007 you could say Magnesium has avg'd $1.30/lb which is what the company predicts its costs are, so worst case it looks like a break even operation to me, but best case high Magnesium prices of $2.50+ stay and the projects NPV of 16c a share flows through

Like I said it is what it is 

p.s. ANyone know much about the Magnesium mkt, or the commodity as a metal, ie how is it traded/priced, long term + spot or just spot, who are the major players etc etc

Cheers


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## ans25 (20 May 2008)

What do you guys reckon, Ive held this for like a month now, and it is slowly increasing, could be exciting times ahead perhaps?!


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## YOUNG_TRADER (21 May 2008)

Hey ans25, didn't know you were on this

I bought originally for the unbelievable NPV's being given by the company

ie 4c-16c was 400% to 1600% upside

As I said it was a very high risk play but also very high returns 

Todays update re lab testing is good as it shows they are progessing well

Step by step 



YOUNG_TRADER said:


> Hey guys,
> 
> This spec dog may be worth a look, then again it may not, depends on your risk profile
> 
> ...


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## tigerboi (21 May 2008)

Gee yt you know i love a punt ol mate & this one is a potential big bagger BUT if the plant is going to take 12 months to build,considering most people bail out if they have to wait 6 months for drilling to be finished,i can see a retrace to the low tens again,i wanted to see 2.5c first before i make up my mind.

However thats the risk/reward factor it could go crash bang wallop or hover around til the plant gets going...speaking of baggers...20/1 is the draw in the soo tonight...now thats a good punt!

Dont worry yt ive had this in my watchlist for about 8 months,potential is plenty,but at the moment i think it may be a little early..we will see.tb


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## YOUNG_TRADER (21 May 2008)

Hey Tigerboi,

As I have siad from the start very high risk, but also very high potential rewards,

I had to re-read todays ann to make sure I didn't miss anything in it as the buying response really took me by surprise,

I mean the stock is now up 70% from a few days back

I've taken some profits at 1.9c to reduce the risk,

apart from today ann which was positive I can't see the reason for this sudden surge


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## tigerboi (21 May 2008)

YOUNG_TRADER said:


> Hey Tigerboi,
> 
> As I have siad from the start very high risk, but also very high potential rewards,
> 
> ...




yep i understand it well,go for it mate..nothing wrong with taking some profit...tb..i wanna see it at 2.5c first..


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## ans25 (21 May 2008)

I think the important thing is whether we can find support at 2c and ifso then I really think it can take off.

I love high risk specs!


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## Georgeb (23 May 2008)

This is a high risk spec with potential good returns. I am willing to hold for a while. A few buy orders building.


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## ans25 (23 May 2008)

Yeah I agree, it got battered today but everything was practically in the red today, like YT said before a high risk however something that can pose huge rewards


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## barney (2 July 2018)

LMG was one of the Top Risers last Friday …… 

The chart has been in a sustained 12 month downtrend and Friday was the first sign of life for a while.  

A recent announcement regarding optimisation testing for their Magnesium Furnace seems to be the catalyst for the spike but a quick read through their recent announcements shows very cash left in the coffers.

Little or no cash for a Spec is an immediate "leave it alone for the moment" for me so this one is currently a "Faker"


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## apoenzyme (30 September 2021)

*From LMG 2021 Annual Report 20/9/21

LATROBE MAGNESIUM PROJECT*
1. Overview
During the year, the Company has made significant progress with its Latrobe Magnesium Project in the
following areas:
• continuing test work and completing value engineering exercise;
• secured Advance Finding under the Section 28A of the Industry Research and Development Act for
its 3,000 tpa magnesium plant;
• achieved Latrobe Council and EPA approval to develop the project in the Latrobe Valley;
• engaging GHD undertaking ongoing environmental and traffic assessment;
• commencing detailed engineering and design of the demonstration plant, and the tendering of the
spray roaster, the long lead time equipment item;
• exercised option to lease 320 Tramway Road, Hazelwood North, the site has been surveyed and
early upgrade work will be tendered; and
• awarded Engineering, Procurement and Construction Management Contract to construct the
demonstration plant.
2. Magnesium Markets
In the calendar year ended 31 December 2020, the primary world production of magnesium increased
to 1 million tonnes. China’s estimated primary production for the calendar year 2020 was approximately
85% of the world’s production. Some 50% of China’s production is used locally. World growth in
demand is expected to continue at an annual rate between 6% and 7% until 2027 when it is projected
the market will produce some 2 million tonnes.
Australian and New Zealand consumption of magnesium has been recorded in the order of 7,000 tonnes
per annum. All this magnesium is imported.
During the year, the magnesium price traded at a higher level that the previous year’s high in line with
many commodities, owing to the effects of the corona virus on the reduction in the worldwide production
of cars. The spot prices as at 30 June were, as follows:
30-Jun-21 30-Jun-20
FOB China US$ per tonne 3,260 2,207
Owing to United States anti-dumping duties, the annual delivered price for 2020 was in the order of
US$2.30 per lb or US$5,071 per tonne.
In China, the operating costs of production stayed within the range between US$2,000 to US$2,500 per
tonne. However, a number of China plants were either closed or scaled back production due to the
introduction of environmental regulations.
With the adoption of light-weighting of motor vehicles and the legislated emission standards in many
countries in the World, there is a growing demand by car companies to use more magnesium and
aluminium sheet in cars. The car business has adopted aluminium sheet in outside panels and with this
sheet there is up to 6 percent of magnesium. With the development of new magnesium alloys and new
production techniques, the use of magnesium car parts and sheet provides many exciting opportunities.
LATROBE MAGNESIUM LIMITED and its Controlled Entities
ABN 52 009 173 611
REVIEW OF OPERATIONS
5
3. Upgraded Study
Following the completion of the value engineering studies, LMG updated its feasibility study for its 3,000
tpa magnesium plant to incorporate various changes. The updated estimate for its capital costs are in
the range between $60 million to $64 million and its EBITDA is in the range between $4.0 million to $4.5
million per annum when it is operating at its name plate capacity. These ranges will be refined once the
design and engineering has progressed and the various equipment packages been tendered later in
2021.
The initial plant is estimated to still employ up to 54 on-going direct employees and contractors and 50
to 75 construction jobs.
4. Ash Supply Agreement
In October 2019, Latrobe Magnesium Limited signed an agreement with EnergyAustralia Yallourn Pty
Ltd (Yallourn) to secure ash supply to LMG’s initial 3,000 tonnes per annum (tpa) magnesium plant for
the next ten years. The agreement requires certain approvals and conditions to be satisfied. It also
deals with the principal issues in relation to Yallourn increasing its supply of ash to LMG’s 40,000 tpa
planned expanded magnesium plant.
On 10 March 2021, EnergyAustralia announced that they would be closing its Yallourn Power Station in
mid 2028. LMG believes there is sufficient fly ash that can be mined from their current ash repository
and the fly ash produced over the next seven years to provide sufficient feedstock to supply a 30,000
tpa magnesium plant for a period of 20 years. New agreements will need to be entered into between
LMG and EnergyAustralia before the expansion of LMG’s plant can take place.
During the next 20 years LMG is hopeful that the Hazelwood HAP4 ash dam may become available to
be processed through their expanded plant. Should this not become available LMG has identified an
alternative supply of feedstock that could be processed by its expanded plant.
5. Community Briefing
Due to COVID-19 restrictions on public gatherings, LMG could not hold a second public meeting during
this year. LMG placed two advertisements in the Latrobe Valley Express notifying the public that project
information in relation to the EPA reports was available.
LMG has also updated its website so that it is more interactive with all stakeholders. It also has a
Linkedin and Twitter sites for the provision of information.
LMG has committed to hold two further Community briefings through the development of the project and
report on the emissions and other matters. LMG believes in having a social licence with the Community
in which it operates.
6. Latrobe Council Planning Permit
On 5 June 2020, LMG.s application to the Latrobe City Council for planning approval to use and develop
the site for its initial 3,000 tpa magnesium plant at 320 Tramway Road Hazelwood North was approved
and a certificate issued.
LMG remains committed to progressing this project to safely re-process mining waste, generating jobs
and developing a new industry in the Latrobe Valley.
LATROBE MAGNESIUM LIMITED and its Controlled Entities
ABN 52 009 173 611
REVIEW OF OPERATIONS
6
7. EPA Planning Approval
On 16 September 2020, LMG’s application to the Environmental Protection Authority (EPA) for its
research, development and demonstration application for its initial 3,000 tpa magnesium plant at 320
Tramway Road Hazelwood North was approved and a certificate issued. The approval allows LMG to
operate the plant for a period of 18 months post the commissioning stage.
The EPA’s approval comes with mainly standard conditions which need to be fulfilled before construction
or commissioning of the plant.
8. The Magnesium Metal Production Facility
LMG plans to establish a “demonstration-scale” magnesium metal production facility using ash from the
Yallourn W power station as raw material. Construction will commence on site in the fourth quarter of
2021.
The chosen site, at 320 Tramway Road, Hazelwood North, is part of industrial zone, and is some 19
kms from the Yallourn Power Station. The plan is to re-purpose the existing buildings, bringing in new
equipment and facilities. The bulk of the production facility is to be housed within the existing building
located at the southern end of the site. Truck access will be from Second Avenue (not the main road)
and loading/unloading will be on the west side of the existing building.
The intention is that the facility would then operate for about 18 months, in order to demonstrate the
production process. Operations beyond that time are possible but LMG has made no decision and any
plan to do so would also need further Council and EPA approval.
The extraction of magnesium from brown coal fly ash is a new and innovative hydromet process. It
involves dissolving magnesium from the ash and its recovery as solid magnesium oxide. This can then
be reduced to magnesium metal using the conventional high-temperature process. Because the
magnesium is removed to a high degree, the material remaining will be utilised as a cement substitute
in the construction industry.
The process is anticipated to have a least an estimated 50 percent reduction in carbon emissions
compared to the usual normal magnesium industry performance. This is due to the lower concentration
of carbonates in the fly ash, compared with the normal Dolomite ore feedstock. Also, the key chemical
consumable, ferrosilicon, is manufactured using hydro-electricity.
LATROBE MAGNESIUM LIMITED and its Controlled Entities
ABN 52 009 173 611
REVIEW OF OPERATIONS
7
9. Warrant Issue
Under the October 2018 funding agreement with RnD Funding Pty Ltd, LMG issued 12,495,000 unlisted
warrants. The warrants have an exercise price of $0.02 and are exercisable for a period up to 3 years
post the drawdown dates.
Under the October 2019 funding agreement with RnD Funding Pty Ltd, LMG has issued 35,889,199
unlisted warrants. The warrants have an exercise price of $0.03 and are exercisable for a period up to
3 years post the drawdown date.
10. Company Funding
On 30 July 2020, LMG received an Advance Finding Certificate under Section 28A of the Industry
Research and Development Act 1986 (Act) for its 3,000tpa magnesium plant using its new acid
hydromet process. LMG is entitled to receive a cash rebate for 43.5% of all eligible expenditure spent
on its seven experimental activities. This rebate should be up to $24 million over the next three years.
2020 was the first of these three years.
On 24 December 2020, the review of LMG’s R&D Tax Incentive 2019-20 application was completed and
LMG received a rebate of $8.79 million on 7 January 2021.
On 6 January 2021, the review of LMG’s BAS September 2020 quarter was completed and LMG
received a GST refund of $1.89 million on 9 January 2021.
From the $10.68 million received, the Company was able to repay its debt financing and trade creditors.
The remaining $5.15 million provides funding to continue development of its initial plant and working
capital.
11. Capital Issue
During the year, the Directors and the Project Director have provided loans to the Company which
equated to their fees. They agreed to convert these loans into fully paid ordinary shares at the volume
weighted average price of the first five trading days of November 2020 being approximately 7 weeks
prior to the Company’s Annual General Meeting. The conversion of these loans was approved by
resolutions passed by LMG’s shareholders at the AGM held on 23 December 2020. On 12 January
2021, LMG issued a total of 17,334,182 shares to the Directors and the Project Director at $0.022 per
share with a total value of $381,252.
LATROBE MAGNESIUM LIMITED and its Controlled Entities
ABN 52 009 173 611
REVIEW OF OPERATIONS
8
12. Project Funding
LMG intends to fund up to $60 million of its capital costs by raising the following finances:
Type of Finance A$M’s
Project Finance 30
Equity Placement and Cash 30
Total Funds 60
(i) Project Finance
The Company has received non-binding Term Sheets from two separate parties who have agreed
to provide these funds. The Company is currently still in negotiations with these parties.
(ii) Equity Placement
LMG will provide both magnesium and supplementary cementitious materials samples produced
from the Yallourn fly ash to two potential cornerstone investors. LMG expects the testing of these
samples will be concluded in the first 6 months of next year and also the funding arrangements.
(iii) Grant Applications
LMG has a grant application with the Victoria State Government which is currently being assessed.


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## greggles (26 October 2021)

LMG share price surging today as a result of the global magnesium shortage.









						Chinese magnesium exports likely to drop 10% in 2021 amid global shortages - Global Times
					






					www.globaltimes.cn
				




LMG currently up 33.33% to 4.4c. I noticed news about the magnesium shortage yesterday but didn't know which ASX stock would most benefit from it. Apparently it is LMG.


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## apoenzyme (26 October 2021)

From 21/10/21
RTL MINING & EARTHWORKS SUBLEASE AGREEMENT 21 October 2021, Sydney Australia:
 Latrobe Magnesium Limited (ASX: LMG)h RTL Mini has entered into an agreement witng and Earthworks Pty Ltd to sublease a portion of their 3,000tpa Demonstration Plant Site at 320 Tramway Road, Hazelwood North, VIC 3840. Latrobe Magnesium finalised a sublease agreement with RTL to utilise 20,000 square meters within Lot 6 of the Hazelwood North Site to establish a new base for RTL’s transport operations after the announcement of Energy Australia Yallourn West Power Plant closure in 2028. Under the subtenant’s agreement, RTL will clear the land of vegetation in accordance with any laws and regulations or as obliged under the current lease agreement, remediate the subleased premises including construction of required hardstands and arrange and install general utilities including potable water, electricity, power & IT communications, and wastewater / sewerage facilities. Latrobe Magnesium welcomes RTL to the Hazelwood North Site. RTL's extensive experience in civil construction and transport of materials to and from the Yallourn Power Plant make them a welcome fit for the Hazelwood Site, and LMG hopes to foster a strong partnership with RTL as the demonstration plant is designed and developed. For more information and any project updates, please visit our website at latrobemagnesium.com. RTL Established in 1992, RTL Mining and Earthworks Pty Ltd is a significant provider of mining, rehabilitation, civil construction, and heavy earthmoving plant hire services as well as general and over dimensional transport services in the Latrobe Valley and surrounding regions. Owned by Thiess (88%) and Linfox (12%), RTL generates annual turnover in excess of AU$100 million and employs up to 500 employees during the earthworks season. RTL are the current contract miner at Energy Australia’s Yallourn West Power Plant consistently providing up to 2500t of coal per hour, totalling up to 17.5 million t per annum maintaining coal reliability. RTL has significant civil, road works and general earthworks capability with the following recent projects completed:
● All earthworks and other civil services on the $1b Victorian Desalination Project.
● Two separate diversions of the Morwell River: Yallourn and Hazelwood.
● Design and construction of the Princes Highway duplication east section between Flynn and Rosedale.
● 8km upgrade of the Strzelecki Highway. David Paterson Chief Executive Officer 21 October 2021 Suite 307, 20 Barrack St, Sydney NSW 2000 | Postal Address: GPO Box 4729, Sydney NSW 2001 | (02) 8097 0250 |
lmg@latrobemagnesium.com | Latrobe Magnesium Limited | ABN 52 009 173 611 | www.latrobemagnesium.com
About Latrobe Magnesium Latrobe Magnesium is developing a magnesium production plant in Victoria's Latrobe Valley using its world-first patented extraction process. LMG intends to extract and sell magnesium metal and cementitious material from Yallourn ash, which is currently a waste stream from brown coal power generation. LMG has completed a feasibility study validating its combined hydromet / thermal reduction process that extracts the metal. Construction is estimated to start on site for its initial 3,000 tonne per annum magnesium plant at the end of June with production commencing 18 months later. The plant will then be expanded up to 40,000 tonne per annum of magnesium 12 months later. The plant will be in the heart of Victoria’s coal power generation precinct, providing immediate access to feedstock, infrastructure and labour. LMG plans to sell the refined magnesium under long-term contracts to USA and Japanese customers. Magnesium has the best strength-to-weight ratio of all common structural metals and is increasingly used in the manufacture of aluminium sheet in cars, laptop computers, mobile phones and power tools. The LMG project is at the forefront of environmental benefit – by recycling power plant waste, avoiding la


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## SyBoo (26 October 2021)

and when Yallourn closes in 2028, then what?


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## apoenzyme (26 October 2021)

Hi @SyBoo, See Thread #.64 above LMG announcement.

Regards,

A


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## apoenzyme (28 October 2021)

*QUARTERLY ACTIVITIES REPORT 30 September 2021* 
LATROBE MAGNESIUM PROJECT Highlights 
$3M over-subscribed placement backed by leading Melbourne Boutique Peak Asset Management together with Fresh Equities settled to fast-track completion of design and engineering services for initial magnesium plant in Latrobe Valley
 $814,000 funding received in October from R&D rebate The company is confident of securing two Cornerstone investors, together with Government funding over the coming months
 Initial plant 3,000tpa plant expected to generate $28M in revenue. 
Entered into an agreement with RTL Mining and Earthworks Pty Ltd to sublease a portion of their 3,000tpa Demonstration Plant Site 

Released Today

Regards

A


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## Dona Ferentes (10 November 2021)

_OMG_, LMG.

Latrobe Magnesium, which is building a magnesium production plant in Victoria’s La Trobe Valley, wants to raise up to $10 million.

The offer was priced at 10¢ a share with one-for-four options.

The 10¢ is a 30 per cent discount to the last close.

The raise follows La Trobe’s November 3 ASX announcement to expand its demonstration plant’s capacity from 3000 tonnes a year to 10,000. The plant expansion would cost $123 million, of which 75 per cent would come from magnesium offtake agreements, the company said at the time.

It told investors to expect $110 million revenue and $42 million EBITDA, after the increased capacity. The plant aims to extract magesium from Yallourn ash, a waste material out of brown coal power generation.


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## frugal.rock (17 August 2022)

Getting a bit frisky, without me.


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