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OzAurum Resources Ltd. ( (AU:OZM) ) has shared an announcement.
OzAurum Resources reported strong progress in the March quarter on its Mulgabbie North heap-leach development, highlighted by shallow, high-grade gold intercepts at the proposed James Stage 1 open pit and testwork showing more than 90% recovery from oxide ore. The company also advanced permitting, secured and began refurbishing a low-cost agglomeration plant, and moved ahead with an 18,000m grade control program to underpin a low-strip, open pit operation.
Regulatory momentum continued with environmental approval for Stage 1 open pit mining and heap leach operations, while remaining licences and permits are being pursued to enable start-up. Funding was bolstered through a $4.1m strategic placement to Forrestania Resources, which became a 19.9% cornerstone shareholder, strengthening OzAurum’s balance sheet and supporting its push toward near-term, low-cost gold production and potential staged pit expansion at Mulgabbie North.
More about OzAurum Resources Ltd.
OzAurum Resources Ltd is an Australian gold exploration and development company focused on advancing its Mulgabbie North Gold Project in Western Australia. The company is targeting a low-cost, scalable heap-leach operation, with open pit mining of shallow, high-grade oxide and saprolite mineralisation designed to support near-term gold production in the Kalgoorlie region.
Average Trading Volume: 1,411,278
Technical Sentiment Signal: Buy
Current Market Cap: A$28.61M
For detailed information about OZM stock, go to TipRanks’ Stock Analysis page.