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An update from Latrobe Magnesium Limited ( (AU:LMG) ) is now available.
Latrobe Magnesium Limited announced the successful closure of its Share Purchase Plan, raising $836,800, which exceeded expectations. The funds will support the company’s operations, including the production of magnesium oxide and the operation of its Demonstration Plant, reinforcing its commitment to sustainable magnesium production.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited (LMG) is a company focused on developing a magnesium metal Demonstration Plant in Victoria’s Latrobe Valley, utilizing a patented extraction process to convert industrial ash from brown coal power generation into magnesium metal and cementitious material. The company plans to expand with a Commercial Plant and an International ‘Mega’ Plant in Malaysia, emphasizing sustainable practices and targeting markets in the automotive, aerospace, medical, and electronics industries.
Average Trading Volume: 2,105,511
Technical Sentiment Signal: Sell
Current Market Cap: A$28.03M
See more data about LMG stock on TipRanks’ Stock Analysis page.
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