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Nevgold Corp ( (TSE:NAU) ) has shared an announcement.
NevGold Corp has announced successful Phase II metallurgical testwork results at its Limousine Butte Project in Nevada, achieving up to 85% recovery of antimony across various grades. This advancement is significant as it demonstrates the project’s strong geo-metallurgical characteristics and the potential for a combined gold-antimony mining operation. The use of acid leaching as a preferred process eliminates the need for third-party smelters, potentially enhancing operational efficiency. The ongoing drilling program and further exploration activities aim to advance the project towards a comprehensive gold-antimony Mineral Resource Estimate, which could strengthen NevGold’s position in the mining industry.
Spark’s Take on TSE:NAU Stock
According to Spark, TipRanks’ AI Analyst, TSE:NAU is a Neutral.
Nevgold Corp’s overall stock score reflects the challenges typical of an exploration-stage mining company, including financial instability due to non-existent revenues and cash burn. However, positive technical indicators and recent promising corporate developments provide some optimism for future growth.
To see Spark’s full report on TSE:NAU stock, click here.
More about Nevgold Corp
NevGold Corp is a mining company focused on exploring and developing gold and antimony projects. Their primary project is the Limousine Butte Project in Nevada, a region known for its rich mining history. The company is committed to unlocking the potential of gold-antimony mineralization through innovative metallurgical processes.
Average Trading Volume: 389,863
Technical Sentiment Signal: Buy
Current Market Cap: C$75.4M
For a thorough assessment of NAU stock, go to TipRanks’ Stock Analysis page.