Magna Terra Reduces Stake in Gold Hunter Following Private Placement

Magna Terra Minerals Inc ( (TSE:MTT) ) has provided an announcement.

Magna Terra Minerals Inc. announced a decrease in its ownership stake in Gold Hunter Resources Inc. following Gold Hunter’s recent private placement. The company’s interest fell from 11.66% to 7.89%, removing the requirement for early warning reporting. This change results from Gold Hunter’s issuance of new shares, and Magna Terra’s decision not to participate in the placement. The company held these shares as part of an option agreement and may adjust its holdings based on market conditions and agreement terms.

More about Magna Terra Minerals Inc

Magna Terra Minerals Inc. is a Toronto-based exploration company focused on precious and critical metals. It aims to advance high-potential mineral projects in Atlantic Canada and Argentina, utilizing option and joint venture partnerships to minimize shareholder dilution. The company is actively exploring projects such as the Humber Copper-Cobalt Project in Newfoundland and Labrador, the Rocky Brook Project, and the Cape Spencer Gold Project in New Brunswick. Additionally, Magna Terra has optioned the Great Northern Project to Gold Hunter Resources Inc. and maintains a significant exploration portfolio in Santa Cruz, Argentina.

YTD Price Performance: 87.50%

Average Trading Volume: 140,327

Technical Sentiment Consensus Rating: Hold

Current Market Cap: C$6.62M

For a thorough assessment of MTT stock, go to TipRanks’ Stock Analysis page.