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Latrobe Magnesium Limited (ASX:LMG)

ALERT: Price-sensitive ASX Announcement for LMG
Current share price for LMG : $0.008 -0.006 (-40.74%)+
Announcement
Release
13 Jul 2026 9:59AM
Price at Release
$0.014
Full Release
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Summary
Latrobe Magnesium Limited (LMG) has secured a strategic funding package of up to $16 million through a share placement agreement with Long State Investment Limited. The funding will be structured across four equal tranches, allowing LMG to initially access up to $6 million to complete the installation and commissioning of its magnesium metal plant in Victoria's Latrobe Valley. The remaining $10 million will be available at LMG's discretion to further expand the plant's capacity to 1,200 tonnes per annum. This agreement enables LMG to maintain control and flexibility over the funding, aligns with development milestones, and is seen as critical in supporting the company's strategic growth and production goals. The partnership with Long State underscores their confidence in LMG's innovative approach to magnesium production, contributing to the reduction of CO2 emissions and supporting a circular economy.
Key Points
  • LMG secures $16 million funding from Long State.
  • Initial $6 million to complete magnesium plant commissioning.
  • Remaining $10 million for future plant expansion.
  • Funding structured in four equal tranches via share placements.
  • Agreement offers flexibility and control to LMG.
  • Long State's investment reflects confidence in LMG's strategy.
  • Plant expansion to 1,200 tpa to use vertical retorts.
  • Supports LMG's environmentally sustainable production goals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.