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Magnetite Mines Limited ( (AU:MGT) ) just unveiled an announcement.
Magnetite Mines Limited has announced the issuance of new unquoted equity securities, including 314,280 convertible notes and 1,200,495 options to be issued for one fully paid ordinary share with an exercise price of $0.1212, expiring in three years. This move is likely to impact the company’s capital structure and could provide additional funding for its operations, potentially strengthening its position in the iron ore market.
More about Magnetite Mines Limited
Magnetite Mines Limited operates in the mining industry, focusing on the extraction and development of magnetite iron ore resources. The company is primarily engaged in producing high-grade iron ore products for the global steel industry.
Average Trading Volume: 125,032
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$9.68M
Learn more about MGT stock on TipRanks’ Stock Analysis page.