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Dragon Mining ( (HK:1712) ) has shared an announcement.
Dragon Mining has completed its annual update of Mineral Resource and Ore Reserve estimates for its Finnish and Swedish projects, reporting a total Mineral Resource of 16,000 kt at an average grade of 3.1 g/t gold, containing 1,600 koz of gold. This update, prepared under the 2012 JORC Code, represents an 8% increase in tonnage and a 10% rise in contained ounces versus the previous statement.
The company’s Ore Reserve estimate now stands at 6,300 kt at an average grade of 2.7 g/t gold, containing 540 koz of gold, a 41% increase in tonnage and a 35% increase in ounces compared with the prior figures. The higher resource and reserve base strengthens Dragon Mining’s production outlook and mine life visibility at both the Vammala and Svartliden production centres, underpinning its operational profile in the Nordic gold sector.
The most recent analyst rating on (HK:1712) stock is a Hold with a HK$8.00 price target. To see the full list of analyst forecasts on Dragon Mining stock, see the HK:1712 Stock Forecast page.
More about Dragon Mining
Dragon Mining Limited is an Australia-incorporated gold mining company with operations focused on Finland and Sweden. The company operates the Vammala Production Centre in southern Finland and the Svartliden Production Centre in northern Sweden, producing gold from a portfolio of underground and open-pit mines and associated stockpiles.
Average Trading Volume: 2,493,042
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.67B
For an in-depth examination of 1712 stock, go to TipRanks’ Overview page.