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Magnetite Mines Limited ( (AU:MGT) ) has provided an announcement.
Magnetite Mines has reminded shareholders that its pro rata 1-for-2 renounceable rights issue, priced at 4 cents per share, will close at 5:00pm Sydney time on 25 March 2026, with all directors committing to participate. The offer includes one free, tradeable option for every new share subscribed, with a 2.5-year term and an 8-cent exercise price, and the options are expected to be quoted on the ASX on a deferred settlement basis.
Using Black-Scholes valuation assumptions, the company highlighted an indicative value range of 0.8 to 1.3 cents per option depending on share price volatility, underscoring additional embedded value for participants in the raising. Magnetite Mines also outlined detailed online procedures for eligible Australian and New Zealand shareholders to access their prospectus and personalised entitlement forms, aiming to maximise take-up and ensure smooth execution of the capital raising.
The most recent analyst rating on (AU:MGT) stock is a Hold with a A$0.04 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 is an ASX-listed resources company focused on the exploration and development of magnetite iron ore projects. The company targets investors in the Australian and New Zealand markets, using equity capital raisings to fund its activities and advance its position within the iron ore mining and development sector.
Average Trading Volume: 621,674
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$11.17M
For detailed information about MGT stock, go to TipRanks’ Stock Analysis page.