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Magnetite Mines Limited ( (AU:MGT) ) has shared an update.
Magnetite Mines Limited has updated its previous announcement to reflect changes in its underwriting agreement, which now includes an increased underwriting commitment and a higher options fee for the underwriter. This update, outlined in a supplementary prospectus dated August 20, 2025, signifies a strategic move to strengthen financial backing for its proposed securities issue, potentially enhancing its market position and providing more robust support for its operational goals.
More about Magnetite Mines Limited
Magnetite Mines Limited operates in the mining industry, focusing primarily on the extraction and development of magnetite iron ore projects. The company is engaged in advancing its projects to meet the growing demand for iron ore, particularly in the steel manufacturing sector.
Average Trading Volume: 439,418
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$13.89M
Learn more about MGT stock on TipRanks’ Stock Analysis page.