** Magnum Mining and Exploration MGU.AX plummets 40% to record low of A$0.006
** Iron ore concentrate and green pig iron producer says it will raise A$1.9 mln ($1.2 mln) at A$0.0006
** Issue price represents a 40% discount to stock's last close
** About 11.9 mln shares traded, 13.2x the 30-day avg, in stock's busiest session since May 13, 2024
** MGU down 33.3% YTD
($1 = A$1.6005)
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.shaikh@thomsonreuters.com))
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