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Magnetite Mines Limited ( (AU:MGT) ) just unveiled an announcement.
Magnetite Mines Limited has announced a renounceable pro-rata rights issue to raise approximately $2.65 million, offering one new share for every three shares held, along with a free attaching option. The rights issue, partially underwritten by Mahe Capital Pty Ltd, allows eligible shareholders to subscribe for additional shares, while ineligible shareholders will have their entitlements managed by the underwriter, with any potential premium distributed proportionately.
More about Magnetite Mines Limited
Magnetite Mines Limited operates in the mining industry, focusing primarily on the extraction and development of magnetite iron ore resources. The company is listed on the Australian Securities Exchange (ASX) under the ticker MGT and is based in Adelaide, South Australia.
Average Trading Volume: 162,514
Technical Sentiment Signal: Sell
Current Market Cap: A$8.46M
See more insights into MGT stock on TipRanks’ Stock Analysis page.