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Astral Resources NL ( (AU:AAR) ) has shared an update.
Astral Resources reported a busy March quarter dominated by intensive drilling and study work across its Western Australian gold portfolio, led by over 13,000m of reverse circulation and geotechnical drilling at the Mandilla Gold Project. The company advanced grade control, resource extension and depth testing at key deposits Theia, Eos, Iris and Hestia, and continued technical, permitting and heritage work for the Mandilla Definitive Feasibility Study, while flagging that heightened Middle East conflict and oil price volatility pose risks to cost and input assumptions.
At Feysville, Astral released assays from infill and extensional drilling at the Kamperman deposit and moved toward finalising a joint venture over the Think Big deposit with Mineral Mining Services, aiming to grow resources and clarify high-grade controls. At Spargoville, the company completed nearly 14,000m of drilling, including resource-definition work at the Wattle Dam Complex and 5B deposit and sterilisation drilling, alongside target generation that delivered a substantial pipeline, all supported by a solid cash position of about $73 million following a $1.76 million placement tranche.
The Mandilla Project’s development case remains central, with the previously released preliminary feasibility study outlining seven open pits at Mandilla and Feysville feeding a 2.75Mtpa plant and forecast production of about 95,000 ounces of gold per year over the first 12 years. That study suggested robust project economics at higher gold prices, and the imminent mineral resource update and ongoing DFS work are likely to be closely watched by investors assessing Astral’s transition from explorer to potential mid-tier producer.
The most recent analyst rating on (AU:AAR) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Astral Resources NL stock, see the AU:AAR Stock Forecast page.
More about Astral Resources NL
Astral Resources NL is an Australian gold exploration and development company focused on advancing its Mandilla, Feysville and Spargoville gold projects in Western Australia. The flagship Mandilla Gold Project underpins a standalone development concept featuring multiple open-pit mines feeding a central processing plant, targeting long-life gold production in a Tier 1 mining jurisdiction.
Average Trading Volume: 7,256,722
Technical Sentiment Signal: Sell
Current Market Cap: A$351.2M
Learn more about AAR stock on TipRanks’ Stock Analysis page.