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EcoGraf ( (AU:EGR) ) has provided an announcement.
EcoGraf has reported strong results from its maiden exploration program across its Tanzanian gold assets, identifying 21 highly prospective prospects within its newly defined Golden Frontiers, which encompass the Golden Eagle project and three Frontier projects over more than 3,000 square kilometres. The standout Hazina prospect within the Southern Frontier returned a high‑grade 4.45 g/t gold rock chip and stream sediment assays up to 8,820 ppb with visible gold over a 3 km strike coincident with a large geophysical anomaly, prompting new licence applications covering 573 km², while the Golden Eagle project has entered a US$9 million farm‑in with AngloGold Ashanti and delivered an initial A$491,600 payment to EcoGraf. Additional priority prospects have been delineated in the Northern and Western Frontiers in Proterozoic belts analogous to known Tanzanian goldfields, and with a supportive Tanzanian government and surging gold prices, the company’s gold portfolio is gaining strategic significance alongside potential lithium, copper and nickel upside.
The most recent analyst rating on (AU:EGR) stock is a Sell with a A$0.35 price target. To see the full list of analyst forecasts on EcoGraf stock, see the AU:EGR Stock Forecast page.
More about EcoGraf
EcoGraf Limited is an Australia-headquartered resources company listed on the ASX and FSE that holds a portfolio of Tanzanian mineral assets, historically focused on graphite through its Epanko Graphite Project and now also advancing substantial gold exploration ground. The company’s Tanzanian tenure spans Archean and Proterozoic terrains considered highly prospective for gold and other commodities, positioning EcoGraf as a diversified player in East Africa’s mining sector alongside major regional gold operations.
Average Trading Volume: 515,710
Technical Sentiment Signal: Buy
Current Market Cap: A$170.8M
Find detailed analytics on EGR stock on TipRanks’ Stock Analysis page.