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Magnum Mining and Exploration Limited ( (AU:MGU) ) just unveiled an update.
Magnum Mining & Exploration Limited announced the extension of its due diligence period for acquiring Palmares Estudos Geologicos LTDA, a major holder of rare earth element projects in Brazil. The extension, now set to end by March 2025, is due to delays in obtaining necessary documentation and stakeholder engagement, though Magnum remains confident in a positive completion. The acquisition includes substantial land holdings in Minas Gerais, Goiás, and Bahia, regions known for their potential in rare earth deposits. Magnum plans a capital raising initiative to support these projects and continues discussions for global partnerships in green steel pig iron production.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited is a company operating in the mining and exploration industry, focusing on rare earth elements (REE) and green steel pig iron production. It holds a significant portfolio of mineral exploration licenses, particularly in Brazil, and aims to develop these strategic projects while exploring potential joint ventures globally.
YTD Price Performance: 10.0%
Average Trading Volume: 1,235,181
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$8.9M
See more data about MGU stock on TipRanks’ Stock Analysis page.
