Australia's Magnum Mining rises on MOU for Nevada project

Magnum Mining and Exploration

08/09/2023 02:00

** Shares of Magnum Mining And Exploration Ltd  MGU.AX  
rise as much as 13.5% to A$0.042, their highest level since Aug
14 
    ** The iron ore producer enters a non-binding memorandum of
understanding (MOU) with Anglo American
    ** Says MOU to progress negotiations for co to access 100%
production from Buena Vista Iron Project in Nevada, U.S.
    ** MOU covers all commercial iron ore products from the
project - Magnum 
    ** MGU stock up 76.2% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))