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An update from Magnetite Mines Limited ( (AU:MGT) ) is now available.
Magnetite Mines Limited has issued 1,081,917 fully paid ordinary shares to two US-based investment funds managed by C/M Capital Partners under Convertible Securities Agreements. This move, conducted without disclosure under specific provisions of the Corporations Act, highlights the company’s compliance with regulatory requirements and strategic financial maneuvers to support its operations, potentially impacting its market positioning and stakeholder interests.
More about Magnetite Mines Limited
Magnetite Mines Ltd is an ASX-listed iron ore company focused on developing magnetite iron ore resources in South Australia’s Braemar iron region. It owns a 100% stake in a 6 billion tonne iron ore resource and is advancing the Razorback Iron Ore Project to supply premium iron ore products for the decarbonizing steel industry, with potential for high-value Direct Reduction grade concentrates.
YTD Price Performance: -4.17%
Average Trading Volume: 130,266
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$13.27M
For an in-depth examination of MGT stock, go to TipRanks’ Stock Analysis page.