Magnetite Mines Limited reported consolidated earnings results for the half year ended December 31, 2016. For the period, the company reported revenue from continuing operations of AUD 168,090 compared with AUD 15,909 for the same period last year. Loss from continuing operations before income tax expense was AUD 2,754,408 compared with AUD 1,159,883 for the same period last year. Net loss attributable to members of the parent entity was AUD 2,754,408 or 0.62 cents diluted per share compared with AUD 1,159,883 or 0.31 cents diluted per share for the same period last year. Net cash flows used in operating activities was AUD 649,572 compared with AUD 812,393 for the same period last year. Payments for plant and equipment were AUD 10,841 compared with AUD 9,221 for the same period last year. Payments for intangibles were AUD 2,800.