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An update from Nevgold Corp ( (TSE:NAU) ) is now available.
NevGold Corp has announced positive results from its Phase II metallurgical testwork at the Limousine Butte Project in Nevada, achieving up to 85% recovery of antimony without affecting gold recovery. This development is significant as it enhances the project’s potential by confirming the effectiveness of acid leaching for antimony extraction, which could lead to on-site production without relying on external smelters. The ongoing drill program and further exploration efforts aim to advance the project towards a comprehensive gold-antimony Mineral Resource Estimate, potentially boosting 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 the exploration and development of gold and antimony resources. The company is actively engaged in projects located in Nevada, a region known for its rich mining history, particularly in the extraction of precious metals.
Average Trading Volume: 389,863
Technical Sentiment Signal: Buy
Current Market Cap: C$75.4M
For an in-depth examination of NAU stock, go to TipRanks’ Overview page.