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Magnetite Mines Limited ( (AU:MGT) ) just unveiled an update.
Magnetite Mines Limited has announced the issuance of 9,330,629 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code MGT. This move is part of the company’s strategy to strengthen its financial position and support its ongoing projects, potentially impacting its market presence and offering new opportunities for stakeholders.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Magnetite Mines Limited stock, see the AU:MGT Stock Forecast page.
More about Magnetite Mines Limited
Magnetite Mines Limited operates in the mining industry, focusing on the extraction and processing of magnetite, a type of iron ore. The company is primarily engaged in developing its iron ore resources to supply the steel industry, with a market focus on enhancing its operational capabilities and expanding its resource base.
Average Trading Volume: 564,412
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$10.98M
Find detailed analytics on MGT stock on TipRanks’ Stock Analysis page.