Proactive Investors - Run By Investors For Investors

Magnetic Resources in small capital raising

Magnetic Resources in small capital raising

Magnetic Resources (ASX:MAU) has undertaken a small capital raise of $300,000 by placing 2,727,272 shares at $0.11 per share with investors.

The funds are ear-marked for drilling and development of the Ragged Rock and Kauring assets in Western Australia.

Magnetic is looking to attract a strategic investor into the Ragged Rock iron ore project, particularly from Chinese and Indian steel businesses.

Kauring is located 30 kilometres east of Ragged Rock.

Current share price is $0.105.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.


View full MAU profile View Profile

Magnetic Resources NL Timeline

Related Articles

Lithium brine evaporation ponds at Rincon project
April 09 2019
The company’s lithium hydroxide exceeded battery-grade standard in lab tests and may provide a complementary production strategy.
March 22 2019
Base Resources is now debt free, with revenue on the rise and a new project advancing well
June 05 2019
Chairman Brian Stockbridge said 2018 was a "transformational year" for the company

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use