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Magnetic Resources to take advantage of 12-month highs

The halt will remain in place until Tuesday 29th August 2017.

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More than 25 ounces of large gold nuggets were recovered at Mertondale

Magnetic Resources NL's (ASX:MAU) shares hit $0.14 yesterday, which is a fresh 12-month high for the company.

The positive re-rating has come after the discovery of large gold nuggets at Mertondale, and the company's other gold potential targets.

Magnetic is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 29th August 2017, or earlier if an announcement is made to the market.

Quick facts: Magnetic Resources NL

Price: 1.375 AUD

ASX:MAU
Market: ASX
Market Cap: $290.03 m
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