Highlights
ASX: MGT       MAGNETITE MINES LIMITED.
Last Price Today's Change   Day's Range   Trading Volume
0.006   0.00 (0.00%)  0.00 - 0.00  0

Overview

 
Avg Volume (4 weeks):242,781
4 Weeks Range:0.004 - 0.006
4 Weeks Price Volatility (%):
100.00%
52 Weeks Range:0.003 - 0.012
52 Weeks Price Volatility (%):
50.00%
Average Price Target:-

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Business Background

Magnetite Mines Limited, formerly Royal Resources Limited, is a mineral exploration and development company, with South Australian Mawson Iron Project, which contains the Razorback magnetite deposit. The Mawson Iron Project is located approximately 250 kilometers north-northeast (NNE) of Adelaide, South Australia, and covers tracts of prospective Braemar Iron Formation. The Mawson Iron Project consists of over five exploration licenses owned by the Company, including EL5432, EL4811, EL5240 and EL5180, and cover the Razorback deposit and its extensions while EL4842 is exclusively optioned to the Company for iron ore exploration and development. It is focused on the development of the Razorback Deposit, which comprises the Razorback Ridge, Razorback West, Interzone and Iron Peak orebodies. The Braemar Iron Formation is the host rock to magnetite mineralization on the project. Its Ironback Hill Prospect occurs on EL5180 and is over 12 kilometers south-southwest of Razorback Ridge.

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