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Ballymore Resources Limited ( (AU:BMR) ) has shared an update.
Ballymore Resources has secured A$383,000 in new Queensland Government Collaborative Exploration Initiative funding to advance copper-gold and silver prospects at its Dittmer and Ruddygore projects. The latest grants lift total non-dilutive government support to almost A$1.4 million over three years and follow a A$400,000 reimbursement for completed work, bolstering the company’s balance sheet.
The funding will underpin a deep-penetrating magnetotelluric survey at Dittmer to refine a potential concealed porphyry copper-gold target and a gravity survey with joint inversion of airborne electromagnetic data at Ruddygore. Management says the repeated CEI support validates Ballymore’s technical capability and target quality, positioning the company for a “transformational” exploration phase that could enhance its standing as a leading north Queensland explorer and potentially create value for shareholders if new discoveries are made.
The most recent analyst rating on (AU:BMR) stock is a Sell with a A$0.16 price target. To see the full list of analyst forecasts on Ballymore Resources Limited stock, see the AU:BMR Stock Forecast page.
More about Ballymore Resources Limited
Ballymore Resources Limited is an Australian mineral exploration company focused on copper, gold and base metals projects in north Queensland. Its flagship assets include the Dittmer and Ruddygore projects, where the company is targeting large-scale mineralised systems using advanced geophysical and drilling programs to build a pipeline of discovery opportunities.
Average Trading Volume: 207,442
Technical Sentiment Signal: Sell
Current Market Cap: A$37.38M
For an in-depth examination of BMR stock, go to TipRanks’ Overview page.