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BMG Resources Limited ( (AU:BMG) ) has issued an update.
BMG Resources Limited has successfully raised $2.5 million through a strategic placement of new shares, enabling the company to fund major drill programs at its Abercromby and Bullabulling Gold Projects. The Abercromby project, with a maiden Mineral Resource Estimate of 518,000 ounces of gold, presents a compelling development opportunity due to its high-grade zones and favorable extraction features. The Bullabulling West area is strategically located near a significant gold mine, enhancing its potential. This capital injection is expected to expedite exploration activities and potentially unlock significant value for stakeholders.
More about BMG Resources Limited
BMG Resources Limited is a company operating within the mining industry, focusing primarily on gold exploration and development. The company is engaged in advancing its wholly owned gold projects in Western Australia, particularly the Abercromby and Bullabulling Gold Projects.
Average Trading Volume: 7,468,143
Technical Sentiment Signal: Buy
Current Market Cap: A$16.62M
Find detailed analytics on BMG stock on TipRanks’ Stock Analysis page.