First Growth Funds Limited is to provide an update on its investment portfolio and advisory business activities. In the first quarter 2021, company invested $1.06 million in ASX listed Magnum Mining and Exploration Limited and the investment is now valued at $5.08 million, a gain of over $4 million. Magnum Mining and Exploration is a mining company with operations in Nevada, USA. Magnum has secured major permits for the long-term production of 232 million tons of high-grade magnetite concentrate grading +67.5% Fe. The project is well situated to existing rail, power and port facilities. Magnum recently announced that it is accelerating development of its magnetite mine development and compressed its Project timeline by signing an exclusive Green Hydrogen supply agreement with AVF Energy Inc. (“AVF”). AVF is a registered company in Nevada that will produce Green Hydrogen from waste on a commercial scale for the Magnum steelmaking facility. AVF is very active in the green hydrogen market having executed MOU agreement with NYSE listed Dominion ($60 billion infrastructure Co) as equity partner in a green hydrogen production project in the United States of America. AVF has agreed to fund and build a commercial scale green hydrogen plant on the Magnum site in Nevada. The agreement provides Magnum with Green Hydrogen, at a 10% discount to market rates, for the manufacture of ‘green friendly’ Hot Briquetted Iron (HBI) and High Purity Iron (HPI) products for supply to the US domestic steel market and battery industry.