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An update from Latrobe Magnesium Limited ( (AU:LMG) ) is now available.
Latrobe Magnesium Limited has announced a non-renounceable rights issue to raise up to approximately $4 million by offering eligible shareholders one new fully paid ordinary share for every 15 shares held at an issue price of $0.023. The offer, managed and underwritten by Shaw and Partners, is part of the company’s strategy to strengthen its financial position and support its ongoing projects, potentially enhancing its market presence and operational capabilities.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited operates in the industrial sector, focusing on the production of magnesium. The company is involved in developing a magnesium production plant and aims to supply the growing demand for this lightweight metal, which is used in various industries including automotive and aerospace.
Average Trading Volume: 3,669,337
Technical Sentiment Signal: Sell
Current Market Cap: A$70.25M
For a thorough assessment of LMG stock, go to TipRanks’ Stock Analysis page.