Magnetic Resources NL (AU:MAU) has released an update.
Magnetic Resources NL has announced impressive financial metrics following an updated economic study at its Lady Julie Gold Project, highlighting a 57% increase in gold resources to 1.49 million ounces. The company reports a robust IRR of 135% and a swift payback period of just 12 months, alongside the commencement of a feasibility study to explore both open cut and underground resources. With ongoing extension drilling and potential financing support from Argonaut PCF, Magnetic is poised for further growth in the Laverton region.
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