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The latest update is out from Riversgold Ltd. ( (AU:RGL) ).
Riversgold Ltd. has moved to address previous concerns about the scale and infrastructure capacity of its Northern Zone Gold Project near Kalgoorlie by expanding its tenement footprint from 0.8 km² to 6.75 km², an increase of about 820%. This enlarged landholding is intended to secure sufficient space for an open-pit operation and associated infrastructure such as waste dumps, offices and processing facilities, providing long-term security of tenure for the project.
The company is also progressing the conversion of its core Northern Zone tenement into a mining lease, with additional contiguous tenements potentially to be rolled into the main lease as drilling defines further porphyry-hosted gold mineralisation. In parallel, Riversgold has executed a Right to Mine and Co-Operation Agreement under which MEGA Resources will fund all development and mining at Northern Zone in return for a 50/50 profit share, materially de-risking project capital requirements and underpinning future development plans.
The most recent analyst rating on (AU:RGL) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Riversgold Ltd. stock, see the AU:RGL Stock Forecast page.
More about Riversgold Ltd.
Riversgold Ltd. is an Australian gold exploration and development company focused on the Kalgoorlie region in Western Australia. Its primary asset is the Northern Zone Intrusive Hosted Gold Project, where it is advancing open-pit development plans in partnership with Oracle Power and MEGA Resources under a profit-sharing arrangement.
Average Trading Volume: 21,636,089
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$32.04M
See more data about RGL stock on TipRanks’ Stock Analysis page.