Magnetite Mines Limited (AU:MGT) has released an update.
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Magnetite Mines Limited extends an invite to its shareholders to join a pro rata renounceable rights issue aiming to raise $4.1 million, with an incentive of free attaching options for additional shares. The offer is underwritten by Mahe Capital for $2 million and comes at a significant discount, supporting the Razorback Iron Ore Project’s development and potential strategic partnerships.
For further insights into AU:MGT stock, check out TipRanks’ Stock Analysis page.