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An update from Metals Australia Ltd ( (AU:MLS) ) is now available.
Metals Australia Ltd has completed a major drilling program at its Lac Carheil Graphite project in Quebec, extending the drilling from an initially planned 7,000 meters to 9,482 meters due to promising findings. The program has identified significant graphite continuity over a 2.3 km strike length, with around 4,000 meters of graphite-bearing core logged. This expansion is expected to enhance the existing Mineral Resource and support the company’s goal of updating its resource estimates by Q3 2025. The drilling success, coupled with government support, underscores the project’s potential and strategic importance in the region.
More about Metals Australia Ltd
Metals Australia Ltd operates in the mining industry, focusing on the exploration and development of high-grade flake graphite projects. The company is strategically positioned in Quebec, Canada, where it aims to expand its graphite resources to meet growing market demands.
YTD Price Performance: -5.00%
Average Trading Volume: 383,281
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$13.12M
Learn more about MLS stock on TipRanks’ Stock Analysis page.