Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Asra Minerals Limited ( (AU:GA8) ) has provided an update.
GoldArc Resources has secured 100% ownership of the Mt Stirling deposit (M37/1306) by acquiring the remaining 10% interest from its joint venture partners, who have converted their stake into a 2% gross smelter royalty and received a $200,000 payment. The simplified ownership structure aligns with a now-unconditional profit-sharing mining agreement with BML Ventures, enabling GoldArc to begin drawing on a $2.5 million cash advance facility to fund exploration and working capital without equity dilution, while a diamond drilling program at Mt Stirling and Stirling Well is underway to generate metallurgical and geotechnical data critical for finalising mine design, safety parameters and environmental planning ahead of the proposed mining operation.
The most recent analyst rating on (AU:GA8) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Asra Minerals Limited stock, see the AU:GA8 Stock Forecast page.
More about Asra Minerals Limited
GoldArc Resources Limited is an Australian gold exploration and development company focused on the Leonora North Gold Project in Western Australia. Its key assets include the Mt Stirling, Stirling Well and Mt Cutmore tenements, located immediately north of the King of the Hills mine, where the company is advancing near-term mining and broader discovery-focused activities.
YTD Price Performance: 4.76%
Average Trading Volume: 1,772,627
Technical Sentiment Signal: Sell
Current Market Cap: A$37.79M
See more data about GA8 stock on TipRanks’ Stock Analysis page.