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An announcement from Northern Star Resources Ltd ( (AU:NST) ) is now available.
MGX Resources Limited has completed the acquisition of a 50% interest in the Central Tanami Gold Project Joint Venture in the Northern Territory from Northern Star Resources for $50 million, including assuming bank guarantees of about $5.8 million and gaining 3,600 square kilometres of wholly owned exploration tenure in the region. The Central Tanami project, one of Australia’s highest-grade undeveloped gold assets with estimated resources of 31 million tonnes at 2.8 g/t for 2.8 million ounces of contained gold, is seen by MGX as a transformational opportunity; the company, now partnered with Tanami Gold NL and local stakeholders, plans to focus immediately on finalising a development plan, securing approvals and accelerating project development to capitalise on the current strong gold price environment.
The most recent analyst rating on (AU:NST) stock is a Buy with a A$33.00 price target. To see the full list of analyst forecasts on Northern Star Resources Ltd stock, see the AU:NST Stock Forecast page.
More about Northern Star Resources Ltd
MGX Resources Limited is an Australian resources company focused on gold exploration and development, with a growing portfolio of projects in Western Australia and the Northern Territory. The company is positioning itself as a new mid-tier gold producer by acquiring advanced, high-grade assets and associated exploration tenements in established gold regions.
Average Trading Volume: 6,020,676
Technical Sentiment Signal: Buy
Current Market Cap: A$40.82B
For a thorough assessment of NST stock, go to TipRanks’ Stock Analysis page.