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Latrobe Magnesium Limited ( (AU:LMG) ) just unveiled an update.
Latrobe Magnesium Limited has achieved a significant milestone with the successful commissioning of its Demonstration Plant for magnesium oxide extraction from brown coal ash in Victoria, following the reissue of its EPA Pilot Project Licence. The company also secured a $6M placement and a $4M underwritten rights issue to support the next phase of its plant, and received a Letter of Interest from the U.S. Export Import Bank for financing its Stage 2 Commercial Plant, which aims to produce 10,000 tonnes of magnesium metal annually. Additionally, its subsidiary in Malaysia has received legal confirmation for the importation of ferro-nickel, ensuring the project’s feedstock supply.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited operates in the mining and materials industry, focusing on the production of magnesium and magnesium oxide. The company is engaged in developing a proprietary process for extracting magnesium from brown coal ash, with a market focus on sustainable and innovative materials solutions.
Average Trading Volume: 6,433,288
Technical Sentiment Signal: Hold
Current Market Cap: A$120.8M
Find detailed analytics on LMG stock on TipRanks’ Stock Analysis page.