tiprankstipranks
Trending News
More News >

Magnetite Mines Limited Issues New Convertible Notes and Share Options

Story Highlights
Magnetite Mines Limited Issues New Convertible Notes and Share Options

Confident Investing Starts Here:

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.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App