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Magnetic Resources NL ( (AU:MAU) ) just unveiled an announcement.
Magnetic Resources has reported a significant upgrade to the Mineral Resource Estimate at its Lady Julie Gold Project near Laverton, with the combined resource now exceeding 39.1 million tonnes containing 2.24 million ounces of gold, more than 80% of which sits in the higher-confidence Indicated category. The LJN4 deposit alone now accounts for more than 2 million ounces and is positioned as one of the largest and highest-grade undeveloped open pit gold deposits in Western Australia, bolstering confidence in the project’s feasibility and economics; with feasibility and permitting progressing and an extensive follow-up drill program under way to further expand resources, the company says it is moving rapidly toward a “shovel‑ready” development status, potentially enhancing value for stakeholders as the project advances toward production.
The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.
More about Magnetic Resources NL
Magnetic Resources NL is an Australian gold exploration and development company focused on the Laverton region of Western Australia. Its flagship asset is the Lady Julie Gold Project, particularly the LJN4 deposit, which it is advancing toward large-scale open pit and potential underground mining, supported by feasibility work and permitting activities.
Average Trading Volume: 281,656
Technical Sentiment Signal: Hold
Current Market Cap: A$398.9M
See more data about MAU stock on TipRanks’ Stock Analysis page.