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An announcement from Gateway Mining Limited ( (AU:GML) ) is now available.
Gateway Mining Limited has announced a transformative acquisition of the Yandal Gold Project from Strickland Metals Limited for $45 million in equity. This acquisition, pending shareholder approval, includes a JORC 2012 Inferred Resource of 400,400 ounces of gold and offers significant exploration potential. The project covers a large area in the Yandal Greenstone Belt, which is relatively underexplored, and Gateway plans to advance the mining license application and explore further drilling opportunities. This move is expected to enhance Gateway’s position in the gold mining sector and could have significant implications for stakeholders, given the project’s scale and potential.
More about Gateway Mining Limited
Gateway Mining Limited operates in the mining industry, focusing primarily on gold exploration and development. The company is engaged in identifying and acquiring mineral resources with significant potential for expansion, particularly in underexplored regions.
Average Trading Volume: 937,939
Technical Sentiment Signal: Hold
Current Market Cap: A$11.04M
For a thorough assessment of GML stock, go to TipRanks’ Stock Analysis page.