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Midas Minerals Limited ( (AU:MM1) ) has provided an update.
Midas Minerals Limited announced a significant acquisition of the Otavi Copper Project in Namibia from Nexa Resources, marking a transformative step for the company. This acquisition includes exclusive prospecting licenses over a 1,776 square kilometer area with high-grade copper, silver, and gold deposits. The company plans to initiate resource definition and regional exploration drilling to capitalize on the project’s potential. Additionally, Midas secured a $6.5 million placement to fund the acquisition and exploration, and appointed new members to its board and management team, positioning itself for growth in the mining sector.
More about Midas Minerals Limited
Midas Minerals Limited is a company involved in the exploration and development of gold, base metal, and lithium projects. The company is focused on expanding its portfolio through strategic acquisitions and exploration activities, with a market focus on high-grade mineral deposits.
Average Trading Volume: 333,044
Technical Sentiment Signal: Buy
Current Market Cap: A$56.17M
For an in-depth examination of MM1 stock, go to TipRanks’ Overview page.