Magnum Mining Faces Capital Crunch as Entitlement Offer Deadline Looms
Magnum Mining and Exploration Limited reminds eligible shareholders that its non-renounceable entitlement offer closes on 24 June 2025, aiming to raise over $2.2 million to support its strategic growth plans.
- Non-renounceable entitlement offer closing 24 June 2025
- Up to 1.12 billion shares offered at $0.002 each
- Offer open to shareholders in Australia and New Zealand
- Funds raised to support strategic initiatives
- Shareholders urged to submit applications before deadline
Entitlement Offer Deadline Approaches
Magnum Mining and Exploration Limited (ASX, MGU) has issued a final reminder to eligible shareholders that its non-renounceable entitlement offer will close at 5pm (WST) on Tuesday, 24 June 2025. The offer, initially announced on 3 June, provides shareholders the opportunity to purchase additional shares at a low price, aiming to raise up to $2.24 million before costs.
Details of the Capital Raise
The offer allows eligible shareholders, those with registered addresses in Australia and New Zealand who held shares as of 10 June 2025, to subscribe for up to 1,121,650,839 new shares at an issue price of $0.002 per share. This pricing reflects a strategic effort by Magnum Mining to bolster its balance sheet while maintaining accessibility for its existing investor base.
Supporting Strategic Growth
While the company has not disclosed specific projects tied to the funds raised, it has expressed gratitude to shareholders for their ongoing support of its strategic initiatives. This capital injection is expected to provide Magnum Mining with the financial flexibility to advance exploration and development activities, critical in the competitive mining sector.
Shareholder Participation and Next Steps
Eligible shareholders are encouraged to submit their application forms and funds promptly to avoid missing the deadline. Access to application forms is facilitated through multiple channels, including the offer prospectus link, Computershare online accounts, and direct contact with the company secretary. The company’s investor relations team remains available to assist with any queries.
Looking Ahead
As the offer closes, market participants will be watching closely to see the level of shareholder participation and how Magnum Mining deploys the new capital. The outcome will provide early signals on investor confidence and the company’s capacity to execute its growth strategy in the months ahead.
Bottom Line?
Magnum Mining’s capital raise closes soon, setting the stage for its next growth phase.
Questions in the middle?
- What is the current subscription uptake for the entitlement offer?
- Which specific projects will the raised funds be allocated to?
- How will this capital raise impact Magnum Mining’s share structure and future financing?
