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OzAurum Resources Ltd. ( (AU:OZM) ) has provided an announcement.
OzAurum Resources has reported strong heap leach metallurgical results from column test work at the James Stage 1 open pit at its Mulgabbie North project, with one column of shallow oxide ore achieving 90% gold recovery and rapid leach kinetics, and a second column of deeper saprolite and transition ore showing robust recoveries above 75%. The company is also close to completing refurbishment of a relocated heap leach plant, with engineering around 90% done and key equipment secured and modified, which together with the metallurgical performance underpins a low-cost development pathway, near-term production potential, and scalable growth across its large mineralised system.
These results confirm the viability of a low-cost heap leach gold operation at Mulgabbie North, with low cyanide consumption suggesting a competitive operating cost profile and potentially strong margins. Progress on plant refurbishment and dry commissioning at Polaris Engineering’s facility de-risks the transition to production and supports staged development, reinforcing OzAurum’s strategic position as it seeks to rapidly generate cash flow and expand along the 8km Relief Shear corridor.
The most recent analyst rating on (AU:OZM) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on OzAurum Resources Ltd. stock, see the AU:OZM Stock Forecast page.
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 pursuing a low-capital, heap leach processing strategy aimed at near-term, cost-efficient gold production from shallow oxide and saprolite mineralisation along the Relief Shear corridor.
Average Trading Volume: 1,595,423
Technical Sentiment Signal: Buy
Current Market Cap: A$23.46M
For detailed information about OZM stock, go to TipRanks’ Stock Analysis page.