Australia's Magnetite Mines rises most in 1 month on tenement grant

Magnetite Mines

11/05/2022 05:22

** Shares of Magnetite Mines Ltd  MGT.AX  rise as much as
15.4% to A$0.03, their highest since May 3
    ** The mineral exploration co says it was formally granted
Muster Dam Tenement by the South Australian Department for
Energy and Mines  urn:newsml:reuters.com:*:nASX4zGCxV
    ** Co to assess, develop any iron ore opportunities
available at tenement together with the Razorback Iron Ore
Project
    ** Stock posts its biggest intraday pct gain since April 14
    ** More than 21.3 mln shares change hands, compared with the
30-day average volume of almost 17 mln shares 
    ** Stock up 0.4% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com;))