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Reach Resources Limited ( (AU:RR1) ) has issued an announcement.
Reach Resources Limited has announced an increase in total gold resources at its Murchison South Gold Project to 67,100 ounces, following a new Mineral Resource Estimate (MRE) for the Pansy Pit deposit. The Pansy Pit, along with the previously reported Blue Heaven deposit, contributes to this total, with significant potential for expansion due to mineralization open at depth and along strike. The strong gold market, with spot prices significantly higher than those used in the MRE, offers substantial upside for the company, potentially enhancing its market positioning and stakeholder value.
More about Reach Resources Limited
Reach Resources Limited operates in the mining industry, focusing on the exploration and development of gold resources. The company is involved in projects such as the Murchison South Gold Project, which aims to expand its gold resource base.
Average Trading Volume: 1,317,395
Technical Sentiment Signal: Sell
Current Market Cap: A$7.43M
Find detailed analytics on RR1 stock on TipRanks’ Stock Analysis page.