Latrobe Magnesium Limited (AU:LMG) has released an update.
Latrobe Magnesium Limited has successfully secured A$18 million in equity through a mix of institutional placements and entitlement offers, aimed at funding final works and commissioning of its Demonstration Plant. The company has garnered strong support from both new and existing investors, including its directors, and is now preparing for an exciting growth phase with plans to commence a Bankable Feasibility Study for a 10,000tpa Commercial Plant. This strategic capital raising positions Latrobe as a pioneer in producing magnesium from brown coal fly ash, with a promising outlook for the magnesium market.
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