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Miramar Resources Limited ( (AU:M2R) ) has shared an announcement.
Miramar Resources has completed the sale of its Randalls Project, located east of Kalgoorlie, to Ore Resources for up to $800,000 in a mix of cash, shares, milestone payments, and a production royalty. The structure of the deal allows Miramar to retain exposure to any future exploration success or production at Randalls while freeing capital and management focus for its other exploration assets.
The company is concentrating on near-term discovery potential at its Gidji JV Gold Project north of Kalgoorlie, where it plans further drilling aimed at quickly defining a monetisable gold resource. It is also advancing work at its 100%-owned Chain Pool Project in the Gascoyne, preparing an auger drilling campaign over previously identified high-grade SEDEX-style copper, lead, and silver mineralisation, though field activity has been temporarily delayed by Tropical Cyclone Narelle.
The most recent analyst rating on (AU:M2R) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Miramar Resources Limited stock, see the AU:M2R Stock Forecast page.
More about Miramar Resources Limited
Miramar Resources Limited is a Western Australia-focused mineral exploration company targeting gold, copper, and nickel-copper-PGE deposits in the Eastern Goldfields and Gascoyne regions. The company aims to create shareholder value through the discovery of high-quality mineral deposits and is led by a board with a track record in discovery, development, and production across Australia, Africa, and North America.
Technical Sentiment Signal: Sell
Current Market Cap: A$5.27M
For detailed information about M2R stock, go to TipRanks’ Stock Analysis page.