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Magnetite Mines Limited ( (AU:MGT) ) has provided an announcement.
Magnetite Mines Limited has announced the distribution of documents to shareholders concerning an Extraordinary General Meeting scheduled for March 5, 2025, in Adelaide. The meeting will focus on obtaining shareholder approvals for the company’s convertible note funding facility and other issues. This move indicates the company’s strategic efforts to secure necessary funding and maintain its operational momentum in developing its iron ore projects.
More about Magnetite Mines Limited
Magnetite Mines Ltd is an ASX-listed iron ore company concentrating on developing magnetite iron ore resources in South Australia’s Braemar iron region. The company wholly owns a Mineral Resource of 6 billion tonnes of iron ore and is advancing the Razorback Iron Ore Project to cater to the increasing demand for premium iron ore products due to decarbonization in the steel sector. This project aims to produce high-value Direct Reduction grade concentrates, offering a superior iron ore product for global steelmakers.
YTD Price Performance: -4.17%
Average Trading Volume: 131,190
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$13.39M
See more insights into MGT stock on TipRanks’ Stock Analysis page.
