Magnum Mining and Exploration Director Increases Equity Exposure Through New Option Issue

Magnum Mining and Exploration Limited ( (AU:MGU) ) has shared an update.

Magnum Mining and Exploration Limited has disclosed a change in director Michael Davy’s relevant interests, with Davy Corp Pty Ltd, an entity he solely controls, receiving 30 million listed director options. The options, issued at a nominal price of $0.00001 each under an options prospectus and shareholder-approved Board Performance Plan, increase Davy’s holdings to 25 million performance rights and 30 million options, further aligning his incentives with shareholder outcomes and signaling ongoing use of equity-based remuneration within the company.

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 and Exploration Limited is an Australian-listed resources company focused on mining and exploration activities. The company is involved in identifying, developing and operating mineral resource projects, providing investors exposure to the mining and exploration sector.

Average Trading Volume: 19,782,255

Technical Sentiment Signal: Sell

Current Market Cap: A$19.16M

For a thorough assessment of MGU stock, go to TipRanks’ Stock Analysis page.