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Latrobe Magnesium Ltd to update on capital raising

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Latrobe Magnesium Ltd (ASX:LMG) has been granted a trading halt by the ASX, pending details on a capital raising.

The halt will remain in place until the opening of trade on Wednesday 13th July 2016, or earlier if an announcement is made to the market.

Latrobe Magnesium is developing a magnesium production plant in Victoria's Latrobe Valley using its patented extraction process.

With the recent acquisition of Ecoengineers Pty Ltd, Latrobe now owns 100% of the hydromet process and its patents.

This acquisition adds value to LMG and assists with the raising of funding for its initial plant.

 

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Quick facts: Latrobe Magnesium Ltd

Price: 0.024 AUD

ASX:LMG
Market: ASX
Market Cap: $31.12 m
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