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Magnetic Resources NL ( (AU:MAU) ) has issued an announcement.
Magnetic Resources NL has announced an update to its Lady Julie Gold Project, which is advancing through the feasibility stage and now includes plans for three open pits and a CIL processing plant. Recent drilling has increased resource confidence and expanded the gold inventory, leading to a substantial mineral reserve estimate. A scoping exercise suggests that concurrent underground mining could significantly boost project value, leading to an expanded processing capacity and a more comprehensive plant design. The company has submitted a Mining Proposal for approval and aims to complete the feasibility study by Q1 2025, indicating a strategic expansion that may enhance its market position and stakeholder value.
More about Magnetic Resources NL
Magnetic Resources NL is a company operating in the mining industry, focusing on gold development projects. Its primary product is gold, and it is significantly involved in developing the Lady Julie Gold Project near Laverton, Western Australia.
YTD Price Performance: 0.45%
Average Trading Volume: 143,074
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$294.8M
For a thorough assessment of MAU stock, go to TipRanks’ Stock Analysis page.
