HopgoodGanim Lawyers is proud to have advised Latrobe Magnesium Limited (ASX: LMG) (Company or Latrobe Magnesium) on its successful A$8.5 million equity raising to support the advancement of its magnesium production strategy and other key project advancement milestones.
The raising comprised a A$5.1 million institutional placement and a fully underwritten A$3.4 million non-renounceable entitlement offer, with shares issued at A$0.015 per share.
The funds raised will be used to complete final structural works for Phase 1B of the Company’s Latrobe Valley Demonstration Plant in Victoria, to support the Company’s 2026 magnesium crown commissioning and production campaign, to establish an initial study for a proposed commercial magnesium plant in the United States, and to provide additional working capital.
The raising marks another important milestone for Latrobe Magnesium as it pursues a sovereign magnesium supply solution capable of supporting manufacturing and critical minerals supply chains.
The HopgoodGanim team was led by Partner Michele Muscillo, Special Counsel Richard Hanel and Senior Associate Garrett Pearce who advised throughout the transaction.
"This successful capital raising provides Latrobe Magnesium with the funding required to progress important development milestones while advancing its broader growth strategy. We were pleased to support the Company on this transaction and look forward to seeing the continued development of its innovative magnesium production platform," said Michele.