Magnis Resources Ltd released the funding Update

Magnis Resources Update

Funding Update: Magnis Resources Ltd.’s (ASX: MNS) stock surged 7.82% on August 16, 2018 after the company provided update on funding discussion relating to both MNS and Nachu Graphite Project. The investment decision is expected to be made by the end of the month regarding making a new investment in the company. Further, MNS has fielded interest from the potential joint venture partners for Nacho Project.

The company is making plans to visit sites in the current quarter with a minimum of two parties. Earlier there was significant progress made by Imperium3NewYork regarding the start-up activities for the New York Gigafactory project in which MNS holds 44%. Meanwhile, MNS stock has fallen 14.47% in three months as on August 15, 2018.

In last one year, the stock has fallen 20.7% and now seems to be on a recovery track.

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