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29metals Ltd. ( (AU:29M) ) has provided an announcement.
29Metals Limited has awarded a four-year underground mining contract to Byrnecut Australia Pty Ltd for the Gossan Valley mine at Golden Grove. This contract, valued at $253 million, is expected to enhance operational synergies and production flexibility by sharing resources across the Golden Grove operations. The Gossan Valley project is anticipated to begin ore production by the end of 2026, providing a higher-grade ore source and potentially extending mineral resource estimates.
The most recent analyst rating on (AU:29M) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.
More about 29metals Ltd.
29Metals Limited is a company operating in the mining industry, primarily focused on the extraction and production of metals. The company is involved in projects such as the Golden Grove mining operations, which include the Gossan Hill and Scuddles mines.
Average Trading Volume: 4,505,991
Technical Sentiment Signal: Buy
Current Market Cap: A$597M
Learn more about 29M stock on TipRanks’ Stock Analysis page.