Australia's Magnetite Mines jumps on improved mineralisation at SA project
09/02/2023 04:48
** Shares of Magnetite Mines Ltd MGT.AX rise as much as
18.8% to A$0.57 - set to mark best day since April 14, 2022, if
current gains hold
** Iron ore co says new drilling data increased the size and
quality of its Iron Peak deposit, which is part of its Razorback
Iron Ore Project in South Australia
** Co says Iron Peak deposit's mineral resource now up 20%
at 503 mln tonnes, increasing co's global mineral resources by
4% to 6 bln tonnes
** MGT stock hits its highest level since Jan 9
** Stock down ~22% this year, as of last close
(Reporting by Ayushman Ojha in Bengaluru)
((Ayushman.ojha@thomsonreuters.com;))
Recent news on Magnetite Mines
See all newsBrief: Magnetite Mines Raises A$1.32 Million Through SPP And Top-Up Placement
Brief: Magnetite Mines Requests Trading Halt To Allow Proposed Placement Of Shares
Australia's Magnetite Mines hits record low on discounted capital raising
Brief: Magnetite Mines Appoints Scott Lowe As CEO And Managing Director; Tim Dobson Steps Down
Australia's Magnetite Mines falls on discounted capital raise