tiprankstipranks
Trending News
More News >

CGN Resources Temporarily Halts Drilling at Webb Project Due to Weather

Story Highlights
CGN Resources Temporarily Halts Drilling at Webb Project Due to Weather

Confident Investing Starts Here:

The latest announcement is out from CGN Resources Ltd. ( (AU:CGR) ).

CGN Resources Ltd. has temporarily paused its drilling operations at the Webb project due to a forecasted rain event, prioritizing the safety of staff and contractors. The company expects a 7 to 10-day halt, with drilling to resume once conditions allow. Initial samples have been sent to Intertek Laboratories, with results anticipated in 6 to 8 weeks, potentially impacting project timelines and stakeholder expectations.

More about CGN Resources Ltd.

CGN Resources Ltd. operates in the mining industry, focusing on exploration and development projects. The company’s primary activities include reverse circulation and diamond core drilling, with a market focus on resource extraction and development.

Average Trading Volume: 112,777

Technical Sentiment Signal: Sell

Current Market Cap: A$8.81M

See more insights into CGR stock on TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App