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Woomera Mining Ltd. ( (AU:OB1) ) just unveiled an update.
Orbminco Limited has completed a significant geophysical survey at its Bronze Fox Project in Mongolia, identifying new targets for exploration. The company is also in the process of applying for a mining lease over the project’s western portion, which could enhance its exploitation potential. However, a tax dispute with the Mongolian Tax Authority remains unresolved, with Orbminco and its partner Kincora Copper appealing a recent court decision. The company has paused further exploration in Mongolia pending clarity on this legal issue and completion of due diligence for another project.
More about Woomera Mining Ltd.
Orbminco Limited is a focused mineral explorer, primarily engaged in exploring for copper and gold in Mongolia, and battery metals such as lithium, nickel, and copper, along with gold in the Yilgarn Cratons of Western Australia.
Technical Sentiment Signal: Hold
Current Market Cap: A$3.4M
For a thorough assessment of OB1 stock, go to TipRanks’ Stock Analysis page.