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Magnetite Mines Limited ( (AU:MGT) ) has issued an announcement.
Magnetite Mines Limited has applied for quotation on the ASX of 1,504,033 new ordinary fully paid shares and an equal number of options exercisable until October 1, 2028, both issued on May 1, 2026. The securities, which arise from previously announced transactions, will expand the company’s listed capital base and may provide additional funding flexibility as it advances its iron ore projects and engages with existing and new investors.
The move signals continued capital market activity by Magnetite Mines at a time when resources developers are seeking to secure funding for long-lead projects. By listing both shares and options from prior corporate actions, the company is improving liquidity in its securities and potentially broadening participation for stakeholders looking for leveraged exposure to its future project development outcomes.
More about Magnetite Mines Limited
Magnetite Mines Limited is an Australian-listed resources company focused on the exploration and development of magnetite iron ore assets. The company is listed on the ASX under the ticker MGT and raises capital through ordinary shares and associated options to fund its project pipeline and corporate activities.
Average Trading Volume: 758,954
Technical Sentiment Signal: Sell
Current Market Cap: A$7.94M
See more insights into MGT stock on TipRanks’ Stock Analysis page.