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The latest announcement is out from Magnetite Mines Limited ( (AU:MGT) ).
Magnetite Mines Limited announced that all resolutions at its Extraordinary General Meeting were passed with the required majority. This outcome supports the company’s strategic initiatives, including raising up to $3.5 million through the issuance of shares and convertible notes, which will aid in advancing its projects and strengthening its market position.
More about Magnetite Mines Limited
Magnetite Mines Ltd is an ASX-listed iron ore company focused on developing magnetite iron ore resources in the Braemar iron region of South Australia. The company owns a 100% stake in a 6 billion tonne iron ore mineral resource and is advancing the Razorback Iron Ore Project to meet the growing demand for premium iron ore products driven by decarbonization in the iron and steel sector.
Average Trading Volume: 162,514
Technical Sentiment Signal: Sell
Current Market Cap: A$8.46M
See more insights into MGT stock on TipRanks’ Stock Analysis page.