28
Nov
09:20
Magnetite Mines' rights issue closes over target
Australian miner Magnetite Mines says that its rights issue has closed, raising AUD 6.5 million ($4.3m), above its AUD 6.2 million target.
Kallanish notes from its statement that the rights issue received strong support from existing shareholders and directors.
Meanwhile, new investors are introduced via Mahe Capital, signalling a vote of confidence in the firm and its Razorback iron ore project.
The company is now funded to complete and submit the Razorback pr…
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Anonymous
Very good overview of the weekly steel market.
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