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An update from Allup Silica Ltd. ( (AU:MML) ) is now available.
McLaren Minerals Limited has announced a substantial upgrade to its Mineral Resource Estimate at the McLaren Project, increasing the total resource to 529 million tonnes at 4.5% heavy minerals, marking an 85% increase in tonnage and a 90% rise in contained heavy minerals compared to the 2022 estimate. This upgrade strengthens McLaren’s position as a leading undeveloped titanium-rich mineral sands deposit globally, with the contained ilmenite increasing to approximately 7 million tonnes. The updated resource supports the ongoing Pre-Feasibility Study and provides flexibility for future mine design and development, aligning with the company’s ambition to develop a 10 million tonne per annum mining operation. The company is also conducting an entitlement offer to raise approximately A$3.6 million to fund further exploration and study works, with the aim of progressing towards near-term production.
More about Allup Silica Ltd.
McLaren Minerals Limited is a company operating in the mining industry, focusing on the exploration and development of titanium-rich mineral sands deposits. The company is primarily engaged in the extraction of ilmenite, rutile, leucoxene, and zircon, with a significant project located in the Eucla Basin of Western Australia.
Average Trading Volume: 2,688,443
Technical Sentiment Signal: Sell
Current Market Cap: A$9.14M
For detailed information about MML stock, go to TipRanks’ Stock Analysis page.