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Nagambie Resources Limited ( (AU:NAG) ) has provided an announcement.
Alkane Resources has signed a term sheet for a conditional placement and earn-in agreement with Nagambie Resources covering Nagambie’s core gold-antimony project tenements in Victoria, located about 40km northeast of Alkane’s Costerfield operations. The proposed investment aims to fund deeper drilling to test potential depth extensions at Nagambie and aligns with Alkane’s strategy of expanding its resource base and production profile, potentially strengthening its regional footprint in Victorian gold-antimony and reinforcing its broader growth trajectory across its Australian and Swedish assets.
The most recent analyst rating on (AU:NAG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Nagambie Resources Limited stock, see the AU:NAG Stock Forecast page.
More about Nagambie Resources Limited
Alkane Resources Limited is an Australia-based gold and antimony producer with three operating mines across Australia and Sweden, including the Tomingley gold mine in New South Wales, the Costerfield gold-antimony underground operation in Victoria, and the Björkdal underground gold mine in Sweden. The company also owns the large Boda-Kaiser gold-copper porphyry project in Central West New South Wales and continues near-mine and regional exploration, positioning it as a growing player in gold, copper and antimony production, particularly in eastern Australia.
YTD Price Performance: -9.09%
Average Trading Volume: 1,511,173
Technical Sentiment Signal: Sell
Current Market Cap: A$9.57M
For an in-depth examination of NAG stock, go to TipRanks’ Overview page.