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Bellavista Resources Ltd ( (AU:BVR) ) just unveiled an update.
Bellavista Resources has agreed to acquire FireFly Metals’ 70% interest, with an option to increase to 80%, in the Pickle Crow Gold Project and associated exploration assets in Ontario, Canada, securing access to an inferred mineral resource of 2.8 million ounces at 7.2 grams per tonne of gold, as well as additional tenure in the Uchi and Wabigoon belts including the Sioux Lookout Project. To fund the transaction, associated earn-in payments and aggressive exploration programs at Pickle Crow, Sioux Lookout and its existing Brumby project, Bellavista plans to raise up to approximately A$25 million via a two-tranche share placement, a move that management says will transform the company into a substantial high-grade gold explorer with significant upside and potential participation in regional M&A.
The most recent analyst rating on (AU:BVR) stock is a Hold with a A$0.79 price target. To see the full list of analyst forecasts on Bellavista Resources Ltd stock, see the AU:BVR Stock Forecast page.
More about Bellavista Resources Ltd
Bellavista Resources Ltd is an Australia-listed mineral exploration company focused on gold and base metals, with existing exploration activities including its Brumby project in Western Australia. The company is seeking to expand its footprint into highly prospective North American gold belts, aiming to build a substantial high-grade resource base and position itself for regional consolidation opportunities.
Average Trading Volume: 133,300
Technical Sentiment Signal: Buy
Current Market Cap: A$80.43M
Learn more about BVR stock on TipRanks’ Stock Analysis page.