The Magnetite Mines (ASX:MGT) share price is up 330% in 2021

The Magnetite Mines Ltd (ASX: MGT) share price has had a roaring 2021 so far. It’s currently up 330% year to date.

At the time of writing, the Magnetite Mines share price is up 2.38% from yesterday’s closing price, trading for 4.3 cents.

So, what’s been driving the Magnetite Mines share price? Let’s take a look at its recent time on the ASX.

The build-up to the Magnetite Mines share price’s big bang

Magnetite’s share price rise has come after much adjusting by the company, and a new foray into iron ore mining.

The company purchased its Razorback High Grade Iron Ore Project in 2018, but in June last year it signed a farm-in agreement…