Latrobe Magnesium Limited ( (AU:LMG) ) has shared an announcement.
Latrobe Magnesium Limited has secured $6.3 million in funding to restart its Demonstration Plant by late May, aiming to produce magnesium oxide and achieve steady state operations. The funding, which includes institutional placements and a share purchase plan, will support the company’s strategy to derisk its technology and processes amidst challenging market conditions. The company plans to sell the produced MgO to Australian customers, and the funding will also aid in permitting activities for future projects, enhancing its industry positioning and stakeholder confidence.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited is an Australian company operating in the magnesium industry. It focuses on producing magnesium oxide and aims to become a leading producer of magnesium metal in the western world.
YTD Price Performance: -35.00%
Average Trading Volume: 1,413,321
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$30.53M
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