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Kogi Iron Ltd. ( (AU:M4M) ) has issued an update.
Macro Mining Services, a subsidiary of Macro Metals, has signed a mining services and profit share agreement with Austral Pacific to evaluate and monetise historical gold tailings, mineralised stockpiles and waste rock at the Paris Gold Mine. Prior drilling and bulk sampling by previous operators and Austral Pacific indicate encouraging near-surface gold grades across both the South West and North East tailings dams, underpinning the potential for a viable reprocessing project.
Macro Mining Services has begun talks with third-party mill owners on toll treatment and launched a feasibility work program that will include RC drilling with Photon analysis, metallurgical and density testing, and the preparation of a mineral resource estimate. The company is also assessing waste rock for use as road base and rail ballast and, under the deal structure, will recover its project costs from revenue before splitting profits 50:50 with Austral Pacific, positioning the initiative as a potential new cashflow stream and value uplift opportunity for stakeholders.
More about Kogi Iron Ltd.
Macro Metals Limited is an Australian mining company focused on gold and related mineral projects, operating through its wholly owned subsidiary Macro Mining Services. The group targets the evaluation and monetisation of gold tailings, mineralised stockpiles and waste rock, with additional emphasis on supplying processed waste rock for construction and civil engineering markets.
Average Trading Volume: 7,939,264
Technical Sentiment Signal: Sell
Current Market Cap: A$32.03M
See more data about M4M stock on TipRanks’ Stock Analysis page.