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The latest update is out from Australian Gold & Copper Ltd. ( (AU:AGC) ).
Australian Gold & Copper reported a strong December quarter highlighted by the maiden Mineral Resource Estimate for its Achilles deposit, totalling 10.3 million tonnes at 116 grams per tonne silver equivalent for 38.5 million ounces silver equivalent, achieved at a low discovery cost of under A$0.14 per ounce. Two continuously operating drill rigs delivered some of the company’s highest-grade silver and gold intercepts to date, while ongoing drilling along the Achilles Shear Zone and at depth is expected to underpin further resource growth. The company also completed the A$1.5 million acquisition of the 6.5km-long Browns Reef Project, expanding its South Cobar Project area to 2,600km² and establishing AGC as the dominant titleholder in the South Cobar district, with Browns Reef now drill-ready and a diamond program at the Evergreen target planned to begin in March; combined with a cash balance of $8.3 million, these developments position AGC for an active year of exploration and resource expansion, strengthening its footprint in a key Australian mining region.
The most recent analyst rating on (AU:AGC) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on Australian Gold & Copper Ltd. stock, see the AU:AGC Stock Forecast page.
More about Australian Gold & Copper Ltd.
Australian Gold & Copper Ltd is an ASX-listed exploration company focused on developing silver, gold and base metal resources in the prolific Cobar Basin of New South Wales. The company is building a district-scale position in the South Cobar region, targeting highly prospective tenements and leveraging aggressive drilling programs to define mineral resources across its expanding project portfolio.
Average Trading Volume: 422,560
Technical Sentiment Signal: Buy
Current Market Cap: A$71.36M
See more insights into AGC stock on TipRanks’ Stock Analysis page.