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Magnetic Resources NL ( (AU:MAU) ) has shared an update.
Magnetic Resources NL has updated the Mineral Resource Estimate for its Lady Julie Gold Project following completion of several deep diamond drill holes at the LJN4 deposit, increasing the combined project resource to 39.1 million tonnes containing 2.24 million ounces of gold. More than 80% of this resource, including 82% of the key LJN4 deposit, is now classified in the Indicated category, reflecting higher confidence in the resource model and strengthening the project’s potential for large-scale open pit mining to 450 metres depth with additional underground potential at higher cut-off grades, thereby enhancing the company’s development options and project de-risking ahead of future feasibility work.
The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 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 advancing its Lady Julie Gold Project and other gold assets in Western Australia. The company targets large-scale open pit and potential underground operations, aiming to upgrade and expand its JORC-compliant mineral resources to support future feasibility and development studies.
Average Trading Volume: 288,037
Technical Sentiment Signal: Hold
Current Market Cap: A$398.9M
See more data about MAU stock on TipRanks’ Stock Analysis page.