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Meeka Gold Limited ( (AU:MEK) ) has shared an update.
Meeka Metals Limited has announced significant results from its open pit expansion drilling at the Turnberry site, part of the Murchison Gold Project. The drilling has revealed thick, shallow high-grade gold deposits, which are expected to extend the Stage 1 oxide open pit mining and potentially increase the company’s gold reserves. This development is likely to enhance Meeka’s production plan and strengthen its market position by adding more high-grade oxide ounces to its operations. The company is currently re-evaluating the Stage 1 open pit design to incorporate these new findings, which could extend the mining beyond the initially planned two years.
The most recent analyst rating on (AU:MEK) stock is a Buy with a A$0.15 price target. To see the full list of analyst forecasts on Meeka Gold Limited stock, see the AU:MEK Stock Forecast page.
More about Meeka Gold Limited
Meeka Metals Limited, trading as Meeka, operates in the mining industry with a focus on gold exploration and production. The company is actively engaged in the development of the Murchison Gold Project, which includes the Turnberry site, aiming to expand its gold reserves and enhance its production capabilities.
Average Trading Volume: 10,857,698
Technical Sentiment Signal: Buy
Current Market Cap: A$364.7M
Learn more about MEK stock on TipRanks’ Stock Analysis page.