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Magnetite Mines Limited ( (AU:MGT) ) has issued an update.
Magnetite Mines Limited has announced the quotation of new securities, including 18,676,923 ordinary fully paid shares and 6,370,256 options expiring in March 2028. This issuance aligns with the terms of a previously disclosed Rights Issue, and it reflects the company’s ongoing efforts to strengthen its financial position and support its operations in the iron ore market.
More about Magnetite Mines Limited
Magnetite Mines Limited is a company in the mining industry, focusing on the extraction and processing of magnetite, a type of iron ore. The company is involved in the development and commercialization of its iron ore resources, aiming to supply the steel industry.
Average Trading Volume: 439,418
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$13.89M
For a thorough assessment of MGT stock, go to TipRanks’ Stock Analysis page.