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The latest update is out from Mt Malcolm Mines NL ( (AU:M2M) ).
Mt Malcolm Mines NL has reported maiden JORC 2012 Mineral Resource Estimates for the Golden Crown and Dumbarton deposits at its Malcolm Project, totalling 269,000 tonnes at 1.53 grams per tonne gold for 13,200 ounces, mostly in the Indicated category. Metallurgical testwork shows strong recoveries above 94% for Golden Crown and up to 95% for Dumbarton oxides, supporting the technical robustness of the project.
The company plans shallow infill and extensional drilling at Golden Crown and deeper drilling into fresh rock at Dumbarton to grow resources and improve confidence, with both deposits remaining open at depth. Management describes the maiden resource as a key de-risking milestone that underpins development planning, early mining cash flow potential, and a clearer pathway to expanding scale and enhancing the project’s appeal to shareholders, new investors and financiers.
The most recent analyst rating on (AU:M2M) stock is a Hold with a A$0.01 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 exploration and development company listed on the ASX and focused on its flagship Malcolm Project. The company is advancing a portfolio of brownfield prospects, including the Golden Crown and Dumbarton deposits, with an emphasis on defining JORC-compliant resources and progressing towards potential near-term gold production in Western Australia.
Average Trading Volume: 2,473,596
Technical Sentiment Signal: Sell
Current Market Cap: A$6.2M
Find detailed analytics on M2M stock on TipRanks’ Stock Analysis page.