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Gateway Mining Limited ( (AU:GML) ) has shared an update.
Gateway Mining has restarted drilling at its Yandal Gold Project, deploying two aircore rigs to accelerate exploration across the Celia and Mustang shear structures, with a particular focus on defining the emerging Haflinger discovery where gold mineralisation has already been intersected over a 500-metre strike. The first rig is undertaking closer spaced drilling around Haflinger following strong gold intercepts, while the second rig is systematically testing the Mustang shear with the aim of replicating similar discoveries, ahead of reverse circulation drilling scheduled to commence in a little over six weeks at Great Western and subsequently at Haflinger and other targets; supported by a strong cash and liquid securities position of about $13.1 million plus a recent $22.5 million capital raising, the program signals an intensified exploration push that could materially advance the project’s resource potential and value proposition for shareholders.
The most recent analyst rating on (AU:GML) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Gateway Mining Limited stock, see the AU:GML Stock Forecast page.
More about Gateway Mining Limited
Gateway Mining Limited is an Australian gold exploration company focused on its flagship Yandal Gold Project in Western Australia. The company targets shear-hosted gold systems along key structural trends such as the Celia and Mustang shears, and is currently well funded to pursue an aggressive exploration program across its tenements.
Average Trading Volume: 3,082,810
Technical Sentiment Signal: Buy
Current Market Cap: A$174.2M
For an in-depth examination of GML stock, go to TipRanks’ Overview page.