LATROBE MAGNESIUM LIMITED (LMG)
Share Price Analysis and Chart

04/11/2026

1

Buy

$0.06

328.57%

Shaw and Partners maintains a Buy rating for Latrobe Magnesium with a $0.06 target price following an operations update detailing Phase 1B installation reaching 98% completion alongside a 50% progression in overall commissioning.

The company executed a non-binding letter of intent to acquire a 250-acre site at the Colleton Megasite in South Carolina for US$5.0m to accommodate a proposed 50ktpa United States magnesium plant.

Operational milestones feature the commencement of reduction furnace commissioning and the successful vacuum testing of all 30 retort and condenser assemblies.

Management lodged an $11.8m research and development claim expected for refund in November while reporting $3.4m in cash reserves at the close of the September quarter.

The analyst identifies the potential execution of the United States land agreement and the conversion of 32ktpa offtake letters of intent into binding agreements as key near-term valuation catalysts.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.10 cents.
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.20 cents.