https://www.miningweekly.com
Business|Financial|Iron Ore|PROJECT
Business|Financial|Iron Ore|PROJECT
business|financial|iron-ore|project

Magnetite raises cash for Razorback

7th May 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Magnetite Mines will raise A$7-million in a share placement to sophisticated and institutional investors to advance studies at the Razorback iron-ore project, in South Australia.

The company would issue more than 120.8-million shares, at a price of 5.8c each under its existing placement capacity.

The share price represented a 2% premium to Magnetite’s five-day volume weighted average share price.

“We believe that this placement, which is modest in proportion to the company’s market capitalization, has considerable longer-term benefits for shareholders. It brings sophisticated and institutional investors on to our register, which is a positive development as we move the Razorback iron-ore project forward, it underpins the financial position of the business, and it increases the funds available for the company’s exciting development programme,” said executive chairperson Peter Schubert on Friday.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024
Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.172s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: