Latrobe Magnesium Limited (AU:LMG) has released an update.
Latrobe Magnesium Limited is set to raise approximately $6 million through a non-renounceable entitlement offer, issuing new shares at $0.045 each to eligible shareholders. The offer, underwritten by Ord Minnett Limited, is restricted to shareholders in Australia and New Zealand and aims to fund the completion and commissioning of their Demonstration Plant, magnesium production, and ongoing R&D with CSIRO. Shareholders can apply for additional shares if there’s a shortfall, with the offer commencing on 12 June 2024 and closing on 3 July 2024.
For further insights into AU:LMG stock, check out TipRanks’ Stock Analysis page.
