Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Westgold Resources ( (AU:WGX) ) just unveiled an update.
New Murchison Gold Limited has commenced production at the Crown Prince Gold Mine, marking its transition from an explorer to a gold producer. The first batch of gold-bearing ore is being processed at Westgold Resources’ facility, with plans to ramp up production to 40,000 tonnes per month. This collaboration with Westgold highlights a capital-efficient model for cooperation between major mining companies and junior explorers, enhancing NMG’s industry positioning and growth potential.
The most recent analyst rating on (AU:WGX) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.
More about Westgold Resources
New Murchison Gold Ltd (ASX:NMG) is a mineral exploration and gold mining company focused on the Garden Gully Gold Project in the Murchison goldfield near Meekatharra, Western Australia. The company holds a substantial package of tenements covering the Abbotts Greenstone Belt and other regional structures, with the Crown Prince Gold Mine being its most advanced project.
YTD Price Performance: 31.45%
Average Trading Volume: 5,263,219
Technical Sentiment Signal: Buy
Current Market Cap: A$3.51B
See more insights into WGX stock on TipRanks’ Stock Analysis page.