29metals Ltd. ( (AU:29M) ) just unveiled an announcement.
29Metals Limited announced a resolution to its insurance claim related to the extreme weather event at Capricorn Copper in March 2023. The company has reached an in-principle agreement with insurers for a settlement of $115 million, resulting in a final payment of $54 million. This settlement enhances the company’s liquidity and flexibility, supporting strategic objectives like the Gossan Valley project at Golden Grove and the potential restart of operations at Capricorn Copper.
More about 29metals Ltd.
29Metals Limited is a company operating in the mining industry, focusing on the extraction and production of copper and other base metals. The company is listed on the Australian Securities Exchange and is involved in projects such as Capricorn Copper and Golden Grove, with a market focus on sustainable mining operations.
YTD Price Performance: -38.78%
Average Trading Volume: 3,929,404
Technical Sentiment Signal: Buy
Current Market Cap: A$205.6M
Learn more about 29M stock on TipRanks’ Stock Analysis page.