Magnum Mining and Exploration Limited ( (AU:MGU) ) has issued an update.
Magnum Mining & Exploration Limited has launched a non-renounceable entitlement offer to raise $1.9 million, which will be used to advance its Buena Vista and Palmares projects and for general working capital. The company has also signed an agreement with the Wickers Group of Sweden to jointly develop technologies for producing pulp, bio-chemicals, and green pig iron, and is negotiating with investors for a Green Pig Iron Project in Saudi Arabia. Additionally, all resolutions at the recent general meeting were passed, and the company has restructured executive roles to conserve cash reserves.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited operates in the mining and exploration industry, focusing on the development and exploration of mineral resources. The company is involved in projects such as the Buena Vista and Palmares, and is also exploring innovative technologies for producing pulp, bio-chemicals, and green pig iron.
Average Trading Volume: 627,286
Technical Sentiment Signal: Buy
Current Market Cap: A$4.86M
For an in-depth examination of MGU stock, go to TipRanks’ Stock Analysis page.