Magnetic Resources NL (AU:MAU) has released an update.
Magnetic Resources NL has reported a promising Prefeasibility Study for its gold production project, projecting an average production of 87,000 ounces of gold per year over a nine-year span, with a rapid payback period of 15 months from the start of production. The company is advancing towards the commitment stage with a comprehensive program aiming to transition from prefeasibility to feasibility by the end of 2024, which includes engineering, drilling for resource definition, and various logistical preparations. With the recent surge in gold prices and ongoing successful drilling results, Magnetic Resources NL is optimistic about further enhancing the project’s profitability.
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