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Magnetite Mines Limited ( (AU:MGT) ) has shared an update.
Magnetite Mines Limited announced the issuance of new unquoted equity securities, including 810,000 convertible notes and options for 2,881,548 shares with an exercise price of $0.1301, expiring in three years. This move is part of the company’s strategy to enhance its financial flexibility and support its ongoing operations, potentially impacting its market position and offering new opportunities for stakeholders.
More about Magnetite Mines Limited
Magnetite Mines Limited operates in the mining industry, focusing on the exploration and development of iron ore resources. The company is primarily engaged in producing magnetite, a type of iron ore, and is listed on the Australian Securities Exchange under the code MGT.
Average Trading Volume: 109,347
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$12.1M
Learn more about MGT stock on TipRanks’ Stock Analysis page.