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The latest update is out from 3D Resources Limited ( (AU:ADG) ).
Adelong Gold Limited has announced that Great Divide Mining has successfully completed due diligence on the Adelong Gold Project, paving the way for the finalization of agreements for GDM’s acquisition and operational management of the project. GDM will initially acquire a 15% stake in Challenger Gold Mines, with plans to increase this to 51% contingent on achieving gold production within 12 months. This development marks a significant step towards recommencing gold production at the Adelong Gold Plant and potentially expanding the resource base, impacting Adelong’s operational capacity and market positioning.
More about 3D Resources Limited
Adelong Gold Limited (ASX: ADG) is a mineral exploration company that owns the Adelong Gold Mine in New South Wales, Australia, and prospective lithium tenement packages in Brazil’s ‘Lithium Valley’. The company is progressing towards becoming a mineral producer at its Adelong Goldfield Project, which carries a JORC (2012) Resource of 188,000 ounces. Adelong recently acquired 100% interest in lithium exploration permits in Brazil, marking a strategic expansion into a significant lithium-producing region.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$5.59M
For a thorough assessment of ADG stock, go to TipRanks’ Stock Analysis page.