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An update from Magnetite Mines Limited ( (AU:MGT) ) is now available.
Magnetite Mines Limited announced that all resolutions proposed at the Extraordinary General Meeting on March 5, 2025, were approved by the shareholders. This outcome supports the company’s strategic initiatives, including the issuance of convertible notes and shares under its Employee Incentive Plan, which may enhance its financial flexibility and stakeholder alignment.
More about Magnetite Mines Limited
Magnetite Mines Ltd is an ASX-listed company specializing in the development of magnetite iron ore resources in South Australia’s Braemar iron region. The company owns a 100% stake in a 6 billion tonne iron ore resource and is advancing the Razorback Iron Ore Project to supply premium iron ore products, meeting the growing demand driven by the decarbonization of the iron and steel sector.
YTD Price Performance: -20.83%
Average Trading Volume: 132,080
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$11.06M
For detailed information about MGT stock, go to TipRanks’ Stock Analysis page.