Magnetite Mines Limited ( (AU:MGT) ) just unveiled an update.
Magnetite Mines Limited announced the expiry of its quoted options, exercisable at $0.45, on 23 May 2025. With the current share price at $0.11, the options are out of the money, and the company will not send expiry notices to individual holders. This decision reflects the company’s strategic focus on its core operations and market positioning, as it continues to develop its Razorback Iron Ore Project to meet global demand for high-quality iron ore products.
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 6 billion tonne mineral resource and is advancing the Razorback Iron Ore Project to supply premium iron ore products for the decarbonizing iron and steel sector.
YTD Price Performance: -8.33%
Average Trading Volume: 123,833
Technical Sentiment Signal: Buy
Current Market Cap: A$13.31M
For a thorough assessment of MGT stock, go to TipRanks’ Stock Analysis page.