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Magmatic Resources Ltd. ( (AU:MAG) ) has provided an update.
Magmatic Resources Ltd. has announced a change in the interests of its substantial holder, Fortescue Ltd and associated entities, due to a dilution following the issuance of shares to parties other than Fortescue. This change has resulted in a decrease in Fortescue’s voting power from 19.90% to 18.77%. The announcement also notes the addition of several new associates to the Fortescue Group, which may impact the company’s strategic positioning and stakeholder relationships.
More about Magmatic Resources Ltd.
Average Trading Volume: 380,118
Technical Sentiment Signal: Hold
Current Market Cap: A$22.11M
Learn more about MAG stock on TipRanks’ Stock Analysis page.