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An announcement from Midas Minerals Limited ( (AU:MM1) ) is now available.
Midas Minerals has reported a significant new near-surface copper-silver discovery at the Spaatzu Prospect within its Otavi Copper Project in Namibia, where initial drilling returned wide zones of high-grade mineralisation, including 16 metres at 2.55% copper and 72.6 grams per tonne silver within a broader 44-metre interval. The discovery, located 12 kilometres west of the high-grade T-13 deposit and associated with a 2.5-kilometre-long surface geochemical anomaly, is prompting an expansion of drilling activity to four rigs, underscoring the project’s scale potential and advancing multiple areas to resource drilling while the company remains well funded with about A$9 million in cash to sustain its accelerated 2026 exploration program.
The most recent analyst rating on (AU:MM1) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Midas Minerals Limited stock, see the AU:MM1 Stock Forecast page.
More about Midas Minerals Limited
Midas Minerals Limited (ASX: MM1) is an Australian mineral exploration company focused on discovering and developing high-grade copper and silver resources, with a growing portfolio that includes the recently acquired Otavi Copper Project in Namibia. The company is targeting structurally controlled, high-grade deposits within a large domal margin system, supported by a strong cash position to fund an accelerated drilling and resource definition program.
Average Trading Volume: 178,943
Technical Sentiment Signal: Buy
Current Market Cap: A$127.2M
See more data about MM1 stock on TipRanks’ Stock Analysis page.