Magmatic Resources Ltd. (AU:MAG) has released an update.
Magmatic Resources Ltd has announced significant developments in its exploration activities, with a focus on the Myall Project through a farm-in and joint venture agreement with FMG Resources, which entails a $14M investment over six years. Concurrently, exploration has resumed at the company’s wholly-owned Wellington North project, targeting areas with confirmed gold-copper mineralisation. Additionally, Magmatic has strengthened its financial position with a $3.71M capital raise from Fortescue’s share subscription, ending the quarter with over $4M in cash reserves.
For further insights into AU:MAG stock, check out TipRanks’ Stock Analysis page.
