Latrobe Magnesium Limited (LMG), an ASX-listed company focused on developing a magnesium metal Demonstration Plant using its patented extraction process, has announced a non-renounceable rights issue to raise up to approximately $4,000,000 before costs. The offer is available to eligible shareholders, providing one fully paid ordinary share for every 15 shares held, at an issue price of $0.023 per share. Shaw and Partners are acting as lead manager and underwriter for the offer.
Latrobe Magnesium intends to extract and sell magnesium metal and cementitious material from industrial ash, currently a waste resource from brown coal power generation. The funds raised will be used for magnesium plant production, specifically to complete the 500 tpa magnesium plant production, procure and install minor piping and electrical bulk materials, and to cover operating costs for two months of steady-state magnesium production, as well as to provide working capital. The company aims to prove its technology at scale with this funding.
The record date for determining entitlements under the issue was 7.00pm (Sydney time) on Thursday, 16 October 2025. The offer opened on Tuesday, 21 October 2025, and is expected to close at 5.00pm (Sydney time) on Tuesday, 4 November 2025. Trading of new shares on the ASX is expected to commence on Wednesday, 12 November 2025, with dispatch of new shareholding statements expected on Thursday, 13 November 2025.
Latrobe Magnesium advises shareholders to read the offer document in its entirety and consult with their stockbroker, accountant, or other professional advisor before making any investment decisions. Acceptance by payment pursuant to the Entitlement and Acceptance Form must be received by the Share Registry by no later than the closing date. The company also notes that the new shares offered should be considered speculative.
