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An announcement from Magnetite Mines Limited ( (AU:MGT) ) is now available.
Magnetite Mines Limited, during its Annual General Meeting, highlighted significant progress in advancing the Razorback Iron Ore Project, including a partnership with JFE Shoji Australia for a feasibility study and a substantial increase in its mineral resource estimate. The company is actively seeking strategic partners and is engaged in discussions with the South Australian Government regarding infrastructure development, such as water supply and high-voltage transmission, to support the project’s growth and regional economic development.
More about Magnetite Mines Limited
Magnetite Mines Ltd is an ASX-listed company specializing in the development of magnetite iron ore resources in South Australia’s Braemar iron region. The company owns a 100% stake in a 6.6 billion tonne iron ore mineral resource and is advancing the Razorback Iron Ore Project to meet the growing demand for premium iron ore products driven by the decarbonization of the iron and steel sector.
Average Trading Volume: 555,773
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$10.61M
Learn more about MGT stock on TipRanks’ Stock Analysis page.