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Woomera Mining Ltd. ( (AU:OB1) ) has provided an update.
Orbminco Limited has completed the acquisition of 100% of Fortify Mining Pty Ltd, securing full ownership of the Majestic North Gold Project in Western Australia by issuing 118.5 million shares and agreeing to defer part of the cash and share consideration. Majestic North, which hosts a shallow supergene gold resource with potential for deeper primary mineralisation and lies close to existing mills and Black Cat Syndicate’s ~500koz Majestic-Imperial project, covers 127 km² of tenure and is seen by Orbminco as a strong near-term mining candidate and a key step in its strategy to expand its gold asset base in Tier-1 jurisdictions, supported by the commencement of infill drilling and strengthened governance through a new technical committee and board appointment.
More about Woomera Mining Ltd.
Orbminco Limited is an Australian gold exploration and development company listed on the ASX, focused on building a portfolio of high-quality gold assets in Tier-1 mining jurisdictions, particularly in Western Australia’s Eastern Goldfields region. Its projects target both near-term production opportunities and longer-term resource growth, leveraging proximity to established mining infrastructure and processing mills.
Average Trading Volume: 308,389
Technical Sentiment Signal: Sell
Current Market Cap: A$5.27M
Learn more about OB1 stock on TipRanks’ Stock Analysis page.