Latrobe Magnesium progresses Stage 1 Demonstration Plant

Proactive - Interviews for investors

Latrobe Magnesium Ltd (ASX:LMG, OTC:LTRBF) managing director David Paterson joins Jonathan Jackson in the Proactive studio to discuss progress of the company’s stage 1 demonstration magnesium plant at Hazelwood North in Victoria’s Latrobe Valley. LMG has developed a patented process to extract magnesium metal from magnesium-rich resources, utilising a hydrometallurgical extraction/thermal reduction process that produces valuable by-products and minimises waste streams. The stage 1 plant has reported no health, safety or environmental incidents to date and during the commissioning trial, magnesium oxide (MgO) was produced that meets required quality specifications. The plant is now moving towards continuous MgO production, with major construction completed and detailed planning ongoing for full construction and commissioning. MgO produced during the trial was more than 80% pure, boosting confidence in achieving higher quality MgO in the operational phase. Looking ahead, stage 2 involves a commercial plant aimed at producing more than 10,000 tonnes per annum. This plant will use advanced technology and efficient materials handling to operate at globally competitive costs, meeting rising demand for magnesium, which is projected to double in the next few years. LMG is also strengthening its financial position, having completed a $12 million placement and expecting an additional $6 million from a rights issue in July. The company reduced its debt by $12.9 million after receiving an R&D rebate in May 2024. Funding options for stages 2 and 3 include a partial sale of site land and a sale and leaseback of the demonstration plant site to raise up to $15 million. #ProactiveInvestors #LatrobeMagnesium #ASX #LMG #MagnesiumProduction, #HydrometallurgicalProcess, #SustainableMining, #VictoriaAustralia, #MgOProduction, #Stage1Plant, #CommercialExpansion, #MagnesiumDemand, #InnovativeTechnology, #FinancialStrength, #ConstructionProgress, #RisingDemand, #EnvironmentalSafety, #Stage2Plant, #BreakthroughTechnology, #MaterialsHandling, #FundingOptions, #MagnesiumIndustry #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews