Latest MAGNUM MINING AND EXPLORATION (ASX:MGU) News

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.

Magnum Mining and Exploration Limited has extended the closing date of its non-renounceable entitlement offer by two weeks, giving shareholders more time to consider the capital raising opportunity.

Magnum Mining & Exploration Limited has completed its acquisition of Palmares Estudos Geologicos LTDA, gaining full ownership of promising rare earth element projects in Brazil. Early exploration results reveal significant high-grade rare earth oxides, positioning Magnum to benefit from global supply shifts.

Magnum Mining & Exploration has completed its acquisition of Palmares Estudos Geologicos LTDA, securing a significant rare earths landholding in Brazil after an extended due diligence process.

Magnum Mining & Exploration is recalibrating its supply chain strategy in response to new U.S. tariffs on steel and aluminium, engaging with Chinese partners and advancing its Buena Vista iron project.

Magnum Mining and Exploration Limited has announced a pro-rata non-renounceable entitlement offer to raise up to $1.94 million, aiming to fund exploration at its Palmares and Buena Vista projects. The offer includes new shares and free options, presenting both opportunity and dilution risks for shareholders.

Magnum Mining and Exploration Limited has launched a $1.9 million non-renounceable entitlement offer to fund its key projects, alongside significant board changes aimed at conserving cash.

Magnum Mining and Exploration Limited reported a net cash outflow of $87.68k for Q4 2024, ending the quarter with $332.81k in cash and a substantial $11 million in unused financing facilities.