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Capricorn Metals Ltd ( (AU:CMM) ) has shared an update.
Capricorn Metals Ltd has announced the acquisition of the Mongers Lake Project, a 113 square kilometer tenement package contiguous to its Mt Gibson Gold Project in Western Australia. This strategic expansion is aimed at enhancing Capricorn’s exploration footprint with highly prospective gold targets, potentially adding substantial ore sources to its operations. The acquisition involves an initial cash deposit and share issuance, with additional contingent payments based on future resource estimates and mining decisions. The company plans to commence exploration activities in 2025, focusing on geological mapping and sampling to identify drilling targets.
The most recent analyst rating on (AU:CMM) stock is a Sell with a A$7.30 price target. To see the full list of analyst forecasts on Capricorn Metals Ltd stock, see the AU:CMM Stock Forecast page.
More about Capricorn Metals Ltd
Capricorn Metals Ltd operates in the mining industry, focusing primarily on gold exploration and production. The company is engaged in expanding its operations in the Murchison region of Western Australia, known for significant mineral discoveries, by acquiring prospective gold tenements.
Average Trading Volume: 1,457,676
Technical Sentiment Signal: Buy
Current Market Cap: A$3.91B
Find detailed analytics on CMM stock on TipRanks’ Stock Analysis page.