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An announcement from Riversgold Ltd. ( (AU:RGL) ) is now available.
Riversgold has secured the strategic P25/2848 tenement adjoining its Northern Zone Gold Project, expanding its Kalgoorlie East footprint about 25km from Kalgoorlie. The company views the grant as integral to its mine plan and long-term tenure security at the Kalgoorlie Gold Project.
Revised structural modelling suggests high-grade mineralisation likely continues into the new tenement, enhancing its exploration potential. Riversgold has lodged a drilling Program of Work and plans to fold the tenement into its mine development and closure planning, while progressing conversion of both Northern Zone and P25/2848 to mining leases in readiness for funded production with MEGA Resources.
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 toward production through a partnership with MEGA Resources, which will fund development and mining on a 50/50 profit-share basis.
Average Trading Volume: 20,721,218
Technical Sentiment Signal: Buy
Current Market Cap: A$41.2M
Learn more about RGL stock on TipRanks’ Stock Analysis page.