Magnetic Resources NL raises A$10M to advance its Lady Julie Gold Project and progress commercialisation works.

Argonaut acted as Sole Lead Manager to the placement of Magnetic Resources NL (ASX: MAU). The proceeds enable Magnetic to advance resource definition drilling, deeper drilling for resource expansion, exploration drilling and ongoing feasibility work.

The placement was strongly supported from several new and existing professional, sophisticated and institutional investors.

Argonaut is delighted to have worked again with George Sakalidis and looks forward to Magnetic’s ongoing success.

Additional information regarding Magnetic can be found on the Company’s website at https://magres.com.au/