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Kalamazoo Resources Ltd. ( (AU:KZR) ) just unveiled an update.
Kalamazoo Resources has reported a substantially enhanced underground mineral resource at the Mt Olympus deposit within its Ashburton Gold Project, with a re‑optimisation delivering 1.44Mt at 3.76 g/t gold for 174,500 ounces outside the existing open‑pit study, and an enlarged exploration target highlighting strong growth potential below the current pit shell. The company has initiated a ~2,600m diamond drilling program to test and infill down‑plunge extents of the resource, commenced a Pre‑Feasibility Study with an external project manager in place, and completed an $8 million placement (with a further $2 million share purchase plan underway) while strengthening its management team, signalling a transition into a development‑focused growth phase for Mt Olympus and the broader Ashburton project during a period of record gold prices.
The most recent analyst rating on (AU:KZR) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on Kalamazoo Resources Ltd. stock, see the AU:KZR Stock Forecast page.
More about Kalamazoo Resources Ltd.
Kalamazoo Resources Ltd. is an Australian gold exploration and development company with a portfolio of projects in Western Australia and Victoria, including the Ashburton, Mallina West and Snake Well North projects in WA and several gold assets in Victoria such as Castlemaine and Mt Piper. The company is focused on advancing its gold resources, particularly at the Ashburton Gold Project in the Pilbara Craton, towards development amid favourable gold market conditions.
Average Trading Volume: 873,294
Technical Sentiment Signal: Buy
Current Market Cap: A$66.43M
Find detailed analytics on KZR stock on TipRanks’ Stock Analysis page.