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Woomera Mining Ltd. ( (AU:OB1) ) just unveiled an announcement.
Orbminco Limited has finalized the acquisition of Fortify Mining Pty Ltd, securing 100% ownership of the Majestic North Project. The acquisition involves issuing 118.5 million shares and deferring a portion of the consideration, providing financial flexibility. The Majestic North Project, known for its shallow, high-grade gold mineralization, offers significant potential for low-cost gold operations. Orbminco plans to advance the project through resource expansion, baseline studies, and targeted exploration drilling, aiming to unlock its full potential and deliver value to shareholders.
More about Woomera Mining Ltd.
Orbminco Limited is a mining company operating in the gold industry, focusing on the development of the Majestic North Project located in a world-class gold province near Kalgoorlie. The project spans a substantial 127km² tenement package and includes a granted Mining Lease, situated close to existing gold operations and infrastructure.
Average Trading Volume: 501,722
Technical Sentiment Signal: Sell
Current Market Cap: A$3.66M
Learn more about OB1 stock on TipRanks’ Stock Analysis page.