Latrobe Magnesium Limited ( (AU:LMG) ) has shared an announcement.
Latrobe Magnesium Limited announced significant progress in its operations, including the planned commencement of its demonstration plant by late May 2025, supported by $6.3 million in funding. The company is also advancing the sale of surplus land to generate up to $5 million, which will aid in further development and operational needs. Additionally, LMG secured a 250MW allocation of hydropower for its Stage 3 Project in Sarawak, Malaysia, and received project development support from the Australian Government. The company is pursuing a $19.39 million counterclaim against Mincore for breach of contract and negligence, with mediation expected by June 2025.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited operates in the magnesium production industry, focusing on the development and commercialization of magnesium products. The company is engaged in establishing a demonstration plant and a commercial plant to produce magnesium metal, with a market focus on sustainable and efficient production processes.
YTD Price Performance: -45.00%
Average Trading Volume: 1,712,188
Technical Sentiment Signal: Buy
Current Market Cap: A$28.03M
Learn more about LMG stock on TipRanks’ Stock Analysis page.