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Mt Malcolm Mines NL ( (AU:M2M) ) has issued an announcement.
Mt Malcolm Mines NL has moved to kick-start a technical and financial study on recently acquired processing plant components, aiming to establish a 500,000 tonne per annum CIP gold processing facility at Leonora. The company’s subsidiary Mt Malcolm Milling has entered two key agreements to provide the technical groundwork and funding pathway needed to assess feasibility and move the project through refurbishment and into commercial production.
An independent contractor agreement with Ecopure Minerals will underpin the plant evaluation, refurbishment planning, cost estimation, scheduling and support through commissioning over the next 12 months. In parallel, a funding assistance agreement with investment banker Christopher Eddy is intended to secure tailored project finance, reinforcing Mt Malcolm’s strategy to become an integrated gold producer and signalling growing momentum for stakeholders as the technical study and funding options progress.
The most recent analyst rating on (AU:M2M) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Mt Malcolm Mines NL stock, see the AU:M2M Stock Forecast page.
More about Mt Malcolm Mines NL
Mt Malcolm Mines NL is an Australian gold-focused resources company advancing its operations near Leonora in Western Australia. Through its wholly owned subsidiary Mt Malcolm Milling Pty Ltd, the company is pursuing an integrated gold business model that includes owning and operating a carbon-in-pulp (CIP) processing facility to treat ore on a 500,000 tonne per annum basis.
Average Trading Volume: 2,603,699
Technical Sentiment Signal: Sell
Current Market Cap: A$7.75M
For a thorough assessment of M2M stock, go to TipRanks’ Stock Analysis page.