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Kaiser Reef Ltd ( (AU:KAU) ) has issued an update.
Kaiser Reef Ltd has decided to halt production at the A1 Gold Mine in Victoria, placing it on care and maintenance following a strategic review prompted by lower gold production in the Nova Zone. Despite this, the company maintains a strong balance sheet with profitable operations at the Henty Gold Mine in Tasmania and ongoing drilling at the Union Hill Gold Mine. This decision allows Kaiser to focus on underground exploration and assess future options for the A1 Mine, while continuing to capitalize on strong gold prices and commendable site performance at its other operations.
More about Kaiser Reef Ltd
Kaiser Reef Ltd is a high-grade gold mining and exploration company focused on mining and exploring for gold in Tasmania and the Victorian goldfields. The company operates the Henty Gold Mine in Tasmania and owns the A1 Gold Mine, the Maldon Gold Processing Plant, and the Union Hill Gold Mine in Victoria.
Average Trading Volume: 2,292,336
Technical Sentiment Signal: Buy
Current Market Cap: A$133.5M
For an in-depth examination of KAU stock, go to TipRanks’ Overview page.