Australia's Magnum Mining and Exploration up on U.S. iron project drilling plan

Magnum Mining and Exploration

22/03/2023 03:42

** Shares of Australia's Magnum Mining and Exploration Ltd
 MGU.AX  jump as much as 5.9% to A$0.018, on track for best day
since March 10, if gains hold 
    ** Iron ore miner says it will undertake shallow drilling at
its Buena Vista Green pig iron project mine site in Nevada, U.S.
    ** Says drilling campaign is designed to test the lateral
and depth extent of high-grade magnetite outcrops with the aim
of outlining a potential source of iron ore
    ** Stock down 19.1% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))