Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An update from Castillo Copper Ltd. ( (AU:NFM) ) is now available.
New Frontier Minerals has advanced the Mining Lease Application for its Big One Copper Deposit in Queensland into the technical assessment phase, following completion of an initial regulatory review by the state’s Natural Resources and Mines Department. The deposit hosts a JORC-compliant resource of 2.1Mt at 1.1% copper plus 7,000 tonnes of surface Indicated stockpiles at 1.3% copper, and metallurgical test work has indicated copper recoveries of up to 99% using conventional sulphuric acid leaching. The company has outlined an initial open-cut, low-strip development concept focused on near-surface mineralisation and haulage of ore and historical stockpiles to Austral Resources’ nearby Mt Kelly Processing Facility, subject to approvals and economic viability. High-grade historical drilling results suggest potential to extend mineralisation with further resource drilling, positioning Big One as a potential near-term cash flow source. The move comes amid a strong copper price environment, driven by supply disruptions and demand from global electrification and the energy transition, which could enhance the project’s economic attractiveness and strengthen New Frontier’s positioning within the NWQ copper district.
More about Castillo Copper Ltd.
New Frontier Minerals Limited is an Australian resources company focused on copper exploration and development, with its flagship NWQ Copper Project located in north-west Queensland. The project sits within a well-established mining district that hosts multiple operating mines and development projects, benefiting from existing regional infrastructure and processing facilities such as the Mt Kelly Processing Facility operated by Austral Resources.
Average Trading Volume: 3,501,597
Technical Sentiment Signal: Buy
Current Market Cap: A$30.93M
See more insights into NFM stock on TipRanks’ Stock Analysis page.