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Ardiden ( (AU:ADV) ) has issued an update.
Ardiden has completed its merger with Lac Gold, making Lac Gold a wholly owned subsidiary and securing full ownership of the Rouyn Gold Project in Québec, Canada, thereby creating additional scale, optionality and financial flexibility for its Canadian-focused gold strategy. Following a successful A$10m capital raising linked to the merger, the company has launched a 15,000-metre diamond drilling program at Rouyn to expand and refine the existing mineral resource, test depth and structural continuity, and support future technical and economic studies, while advancing key permitting with an Authorisation to Intervene application and strengthening stakeholder engagement with Québec authorities, First Nations and local communities.
The most recent analyst rating on (AU:ADV) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Ardiden stock, see the AU:ADV Stock Forecast page.
More about Ardiden
Ardiden Limited is an Australian-listed gold exploration and development company that has consolidated a strategic focus on Canadian assets, primarily through its wholly owned Rouyn Gold Project in Québec, while retaining its Pickle Lake project as a longer-term discovery and growth option. The company aims to build a focused Canadian gold business by advancing high-quality gold assets via staged exploration, technical studies, environmental work and disciplined capital management, underpinned by an experienced board and management team.
YTD Price Performance: 17.65%
Average Trading Volume: 369,231
Technical Sentiment Signal: Hold
Current Market Cap: A$85.96M
For a thorough assessment of ADV stock, go to TipRanks’ Stock Analysis page.