Latrobe Magnesium Limited (AU:LMG) has released an update.
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Latrobe Magnesium Limited announced successful production of Magnesium Oxide at its Demonstration Plant, with plans to initiate continuous operation and revenue generation shortly. The company has strengthened its financial position with a $12M placement and a $6M rights issue, allowing for the repayment of significant debt. Additionally, LMG is advancing its expansion plans with a site assessment for a Commercial Plant and the progression of a Manufacturing Licence for a proposed International Mega-Plant in Malaysia.
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