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- Magnum Mining and Exploration’s (MGU) executives are in the USA to discuss project financing and a potential US market listing
- They will also meet with Mitsubishi representatives while in the country
- The executives will swing past Japan on the way back home to talk with steel mills
- An optimised mine plan upgrade for Buena Vista remains on-track
- Shares last traded at 5.1 cents
Magnum Mining and Exploration’s (MGU) management is headed to New York with the team to kick off formal conversations with US legal counsel ahead of a proposed North American public listing.
Magnum’s C-Suiters will also meet with Mitsubishi representatives regarding a potential offtake deal, representatives of steel mills who may process Magnum’s Buena Vista ore, and also to meet with banks and other financing entities.
Both Magnum CEO Neil Goodman and Executive Director Messrs Athan Lekkas are on the road in the US. Both will also swing past Japan on the way home to engage with steel mill operators in that jurisdiction.
The company is also crystallising its agreements which are in place with port, rail, and road services providers that will underpin the logistical operations of the project, allowing the ore to be shipped to key markets.
Bulk ore sample testwork is on its way back to the company as Magnum seeks to confirm at what premium it can sell its product down the track. Simultaneously, historical data is being assessed to boost access to ore on-site at the brownfield project.
Magnum’s optimised mine plan upgrade remains ongoing.
“Our activities are focussed on rapid development and end-user consultation. The roadshow to the USA will further those efforts by engaging this market and tapping into the financing opportunities it represents,” MGU CEO Neil Goodman said.
“The Buena Vista iron mine is being progressed rapidly to take advantage of the steel industry’s insatiable appetite for low emissions feed.”
MGU shares last traded at 5.1 cents.
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