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An update from Lefroy Exploration Ltd. ( (AU:LEX) ) is now available.
Lefroy Exploration Ltd has received its first cash advance of $1.25 million from BML Ventures Pty Ltd under a Profit Cash Advance Facility Agreement, which will support the company’s cash position and fund exploration activities at the Burns Central high-grade gold project. This financial boost ensures Lefroy is well-prepared for the upcoming profit-share distributions from the Lucky Strike Gold Project, set to commence operations in late 2025. The agreement with BML, which includes a total funding commitment of $2.5 million, reflects a strategic partnership that strengthens Lefroy’s financial and operational capabilities in the mining sector.
More about Lefroy Exploration Ltd.
Lefroy Exploration Ltd is a company operating in the mining industry, focusing on the exploration and development of gold projects. It is primarily involved in the Lucky Strike Gold Project, which has a mineral resource estimate of 1.27 million tonnes at 1.95 g/t gold for 79,600 ounces. The company is engaged in a profit-sharing agreement with BML Ventures Pty Ltd, a mining contractor known for its expertise in funding and operating open pit gold mines.
Average Trading Volume: 274,172
Technical Sentiment Signal: Buy
Current Market Cap: A$38.51M
For detailed information about LEX stock, go to TipRanks’ Stock Analysis page.