Magnetite Mines Limited reported audited consolidated and parent earnings results for the year ended June 30, 2018. For the year, the consolidated company reported loss before income tax was AUD 3,523,581 against AUD 4,436,046 a year ago. Loss for the year after tax was AUD 3,523,581 against AUD 4,436,046 a year ago. Basic loss per share was 0.62 cents against 0.97 cents a year ago. Net cash outflows from operating activities were AUD 1,941,679 against AUD 1,670,201 a year ago. Payment for plant and equipment was AUD 8,018 against AUD 14,210 a year ago. For the period, on parent basis, the company reported loss for the year after income tax of AUD 12,268,544 compared to AUD 4,436,046 a year ago.