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Ora Gold ( (AU:NMG) ) has shared an announcement.
New Murchison Gold reported a second full quarter of steady-state production at its Crown Prince Operations, selling 173,174 tonnes of ore grading 3.1 grams per tonne gold for 16,660 ounces, above the tonnage contemplated in its ore purchase arrangements. Strong margins, supported by high gold prices and disciplined costs, helped deliver a quarterly cash build of $63.6 million, leaving the company debt-free with $155.6 million in cash.
Exploration intensified around near-mine targets including Crown Prince East, Lydia and Abbotts, where high-grade drill results and deeper drilling below the planned Crown Prince pit outline significant underground and open-pit growth potential. An updated resource and reserve for Crown Prince is targeted for the September 2026 quarter, while the appointment of Mark Adams as a non-executive director adds mining expertise to support operational optimisation and expansion of the development pipeline across the Garden Gully project.
The most recent analyst rating on (AU:NMG) stock is a Buy with a A$0.07 price target. To see the full list of analyst forecasts on Ora Gold stock, see the AU:NMG Stock Forecast page.
More about Ora Gold
New Murchison Gold Limited is an Australian gold producer focused on the Garden Gully Gold Project in the Murchison region of Western Australia. The company operates the Crown Prince Gold Mine, selling ore to third-party processing facilities, and is positioning itself as a growth-focused, unhedged gold miner with a strong balance sheet and exposure to high Australian dollar gold prices.
YTD Price Performance: -6.00%
Average Trading Volume: 29,716,373
Technical Sentiment Signal: Buy
Current Market Cap: A$510.6M
Learn more about NMG stock on TipRanks’ Stock Analysis page.