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The latest update is out from Magnetite Mines Limited ( (AU:MGT) ).
Magnetite Mines Limited has confirmed additional near-surface rare earth element mineralisation at its Ironback Hill Project through re-assayed archived drill samples. The company plans a low-cost air-core drill program in early 2026 to further explore the spatial extent of this mineralisation and has applied for an exploration license to extend its coverage in the area. These developments align with the company’s strategy to enhance shareholder value through selective exploration of critical minerals, while maintaining a focus on its core magnetite iron ore projects.
More about Magnetite Mines Limited
Magnetite Mines Limited is an Australian company operating in the mining industry, primarily focused on the exploration and development of magnetite iron ore deposits. The company is also involved in the exploration of rare earth elements (REE) at its Ironback Hill Project in North-East South Australia.
Average Trading Volume: 783,320
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$10.61M
See more insights into MGT stock on TipRanks’ Stock Analysis page.