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Magnis Energy Advances Nachu Graphite Project Amid Leadership Change

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Magnis Energy Advances Nachu Graphite Project Amid Leadership Change

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An update from Magnis Energy Technologies Limited ( (AU:MNS) ) is now available.

Magnis Energy Technologies Limited has announced progress on its Nachu Graphite Project in Tanzania, with detailed engineering set to be completed by Xinhai subsidiary, Yantai Xinhai Mining Research & Design Co., Ltd. A tri-party MOU has been signed with Xinhai and SMC for the development of the project, with Xinhai handling the processing plant and SMC responsible for civil works. Additionally, the company is addressing a default notice from the Tanzania Mining Commission and has announced the resignation of director Peter Tsegas, who has significantly contributed to the project’s progress.

More about Magnis Energy Technologies Limited

Magnis Energy Technologies Limited operates in the energy sector, focusing on the development of graphite projects. The company is involved in the Nachu Graphite Project in Tanzania, which aims to produce high-quality graphite for various industrial applications.

Technical Sentiment Signal: Sell

Current Market Cap: A$50.38M

Find detailed analytics on MNS stock on TipRanks’ Stock Analysis page.

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