Magnum Issues Shares for Wet Mountain REE Acquisition, Flags Imminent Exploration Updates

The latest update is out from Magnum Mining and Exploration Limited ( (AU:MGU) ).

Magnum Mining & Exploration Limited has issued 20 million new fully paid ordinary shares as part of the consideration for its recently completed acquisition of Wyoming Critical Minerals Inc., the sole owner of the Wet Mountain Rare Earth Element Project, and has lodged a cleansing notice confirming compliance with relevant Australian corporate disclosure requirements. The company also signalled ongoing efforts to identify complementary commercial opportunities and indicated it expects to report drilling results from its Palmares and Azimuth REE Projects and geophysical and sampling results from the Parker Au-Cu-Ag Project in February, developments that could further shape its critical minerals and precious metals exploration strategy and inform investor assessment of its growth trajectory.

The most recent analyst rating on (AU:MGU) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Magnum Mining and Exploration Limited stock, see the AU:MGU Stock Forecast page.

More about Magnum Mining and Exploration Limited

Magnum Mining & Exploration Limited is an ASX- and OTCQB-listed resources company focused on the exploration and development of rare earth element (REE) and precious/base metal projects. Its portfolio includes the Wet Mountain REE Project in the United States, as well as the Palmares and Azimuth REE Projects and the Parker Au-Cu-Ag Project, positioning the company within the critical minerals and gold-copper-silver exploration space.

Technical Sentiment Signal: Sell

Current Market Cap: A$19.16M

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