Australia's Magmatic Resources jumps as joint venture with Fortescue unit advances

Magmatic Resources

01/08/2025 03:27

** Shares of Magmatic Resources MAG.AX jumps 13.6% to A$0.050, set to gain most since April 15

** Gold-copper explorer finalises budget of A$3.5 million ($2.25 million) with private unit of Fortescue FMG.AX for JV project

** Trading volume at about 901,480, 1.5x 30-day average

** Stock up 66.7% YTD, including moves in current session

($1 = 1.5557 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))