Latest Magnum Mining and Exploration (ASX:MGU) News

Magnum Mining & Exploration is moving forward with plans to establish a modular processing hub for critical minerals in Nevada, targeting antimony and rare earth elements to support U.S. supply chains.

Magnum Mining & Exploration Limited has appointed Leslie Pereira as a Non-Executive Director while Neil Goodman steps down from the board, marking a strategic shift aimed at enhancing shareholder value and project development.

Magnum Mining & Exploration Limited is intensifying its US asset review, spotlighting promising rare earth elements and critical minerals prospects at its Parker Gold and Buena Vista Iron projects amid shifting geopolitical priorities.

Magnum Mining & Exploration has initiated leach testing on high-grade samples from its Palmares Rare Earth Element Project in Brazil, aiming to validate recovery rates ahead of planned drilling. Results expected by September will guide the next phase of exploration across its extensive REE portfolio.

Magnum Mining & Exploration has completed key acquisitions of copper-gold projects in the USA and a rare earths package in Brazil, while raising $0.5 million through a recent entitlement offer to fund exploration and development.

Magnum Mining & Exploration Limited has successfully closed its recent capital raising, securing nearly $2.4 million through a combination of entitlement offer shortfall placement and an additional share placement.

Magnum Mining & Exploration has successfully raised nearly half a million dollars through a non-renounceable entitlement offer, with a substantial shortfall offer now available to investors.

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.

Magnum Mining and Exploration Limited has announced a pro-rata entitlement offer to raise up to $2.24 million, aiming to fund key exploration projects across Brazil, the US, and Nevada. The offer carries significant dilution risks for non-participating shareholders and underscores ongoing operational uncertainties.

Magnum Mining and Exploration has initiated a $2.2 million entitlement offer at a significant discount, aiming to strengthen its capital base and fund key projects in Australia and the US.

ASX has suspended trading of Magnum Mining’s MGUN securities following the abrupt cancellation of its entitlement offer, raising questions about the company’s capital strategy.

Magnum Mining’s recent entitlement offer attracted only 22% subscription, failing a key regulatory condition and rendering the offer void. The company now faces the challenge of securing alternative financing to maintain its strategic momentum.