What does the $magnet$ hero amp do

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The text says that it will attract "loot" from further away. Does Loot include ammo crates and health, or is it just money? I'm trying to decide if I should get this or save up for Chance of Lighting lvl 2. Thanks.
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How To #1 - Magnetic Amplifier \u0026 Saturable Reactor - Demo \u0026 Basic Principle Of Operation
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