Key Highlights
The Company continues to advance discussions with several parties currently in its data room who have shown interest in the Lady Julie Gold project. The Company has also received several unsolicited inbound enquiries from potential financiers.
As a result, Magnetic has engaged Argonaut PCF to support the Company in structuring and securing financing for the Lady Julie Gold Project and supporting Magnetic with key decision making. The appointment is on normal commercial terms for a transaction of this nature.
The strong interest follows the Company releasing a Prefeasibility Study in March 2024 which demonstrated that the Lady Julie Gold Project is one of the highest margins, undeveloped gold projects in Australia. The project’s low-cost profile and strong financial return metrics are primarily driven by the near-surface, high-grade nature of the Lady Julie Central and Lady Julie North 4 deposits. This low-cost profile places the project in the bottom half of the cost curve of gold producers in Australia.
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