Shaw and Partners was pleased to be appointed as Sole Lead Manager to the $10 million equity raising by Latrobe Magnesium (ASX:LMG).

Proceeds from the Placement and underwritten Entitlement Offer will be used to continue Demonstration Plant operations, fully fund the commissioning and operation of the Mg metal component of the Demonstration Plant and provide working capital.

Latrobe Magnesium is an Australian company that has produced the world’s first MgO from brown coal ash at its demonstration plant in the Latrobe Valley, Victoria. This milestone has proven the Company’s patented hydromet process and will facilitate early revenue through MgO sales ahead of magnesium metal production in the coming months. Magnesium is a critical metal and Latrobe is the only new western producer coming online in the foreseeable future.

Latrobe Magnesium is progressing towards steady-state MgO production at its 1,000tpa Demonstration Plant. The Demonstration Plant is proposed to be followed by a 10ktpa Commercial Plant, for which offtake agreements have been signed for 100% of capacity. Hydropower capacity has been granted to Latrobe Magnesium by the authorities in Malaysia in March for its proposed 100ktpa International Plant, enabling Latrobe Magnesium to eventually become a global-scale, low-emissions producer of magnesium.

The issuer of the securities is Latrobe Magnesium Limited. Offers of the securities will be made to retail shareholders as set out in the Retail Entitlement Offer Information booklet expected to be sent to eligible shareholders on 21 October 2025. Eligible shareholders should consider the disclosure documents carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process as detailed in the offer booklet.

This offer was available to Sophisticated, Experienced, Wholesale investors only (as these terms are defined in the Corporations Act). Shaw and Partners Limited acted as Lead Manager and Bookrunner in relation to the Placement and Underwriter to the Entitlement Offer. Shaw received fees for the service.