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Minerals 260 Limited ( (AU:MI6) ) has issued an announcement.
Minerals 260 has confirmed that Franco-Nevada has received Foreign Investment Review Board approval for mortgage arrangements over certain Bullabulling Gold Project tenements in Western Australia. This clears the final condition for payment of a $95 million second tranche under a royalty funding deal, due no later than 27 March 2026.
The second tranche will complete a $220 million strategic funding package from Franco-Nevada to accelerate and de-risk development of the 4.5Moz Bullabulling Gold Project. Management says the expanded relationship with the major gold royalty group is a strong endorsement of Bullabulling and will support a faster push towards production and a broader exploration strategy while strengthening the project’s funding pathway.
The most recent analyst rating on (AU:MI6) stock is a Hold with a A$0.57 price target. To see the full list of analyst forecasts on Minerals 260 Limited stock, see the AU:MI6 Stock Forecast page.
More about Minerals 260 Limited
Minerals 260 Limited is an Australian mineral exploration and development company focused on advancing the Bullabulling Gold Project in Western Australia. The project is a potential open-pit mining operation near Kalgoorlie, hosting a JORC 2012 Mineral Resource of 130Mt at 1.0g/t gold for 4.5 million ounces on a large, largely contiguous tenement package.
Average Trading Volume: 9,200,573
Technical Sentiment Signal: Buy
Current Market Cap: A$1.39B
See more insights into MI6 stock on TipRanks’ Stock Analysis page.