Latrobe Magnesium Share Purchase Plan Extension

Latrobe Magnesium Limited (ASX: $LMG) has extended the closing date for its Share Purchase Plan (SPP) Offer to 5.00pm EST on Friday, 22 March 2024, following significant shareholder support. All other terms and conditions of the SPP remain unchanged from the initial offer released on 9 February 2024.

Executive Commentary

The Directors have decided to extend the closing date for the Share Purchase Plan Offer in response to the considerable support shown by our shareholders. We thank our shareholders for their continued support and look forward to their participation in the SPP. This extension provides our shareholders with more time to consider and take up the offer, and we are pleased to accommodate their interest in the SPP.

Summary of Share Purchase Plan Extension

Latrobe Magnesium Limited (ASX: $LMG) has extended the closing date for its Share Purchase Plan (SPP) Offer to 22 March 2024, allowing shareholders more time to participate in the offer. The company is developing a magnesium production plant in Victoria's Latrobe Valley and aims to extract and sell magnesium metal and cementitious material from industrial fly ash, a waste resource from Yallourn brown coal power generation. The feasibility study has validated its extraction process, with the demonstration plant set to produce MgO by the end of March 2024 and the full plant to be commissioned by the end of Q2 2024. The company plans to develop a commercial plant with a capacity of over 10,000 tonnes per annum by December 2025, targeting the USA market. This initiative is expected to contribute to environmental benefits by recycling power plant waste and reducing CO2 emissions.