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Laneway Resources Ltd. ( (AU:SVG) ) has shared an update.
Savannah Goldfields Ltd has announced its maiden Ore Reserve at the Agate Creek Project, which is located in Far North Queensland. The reserve comprises 460,000 tons of ore with an average grade of 2.5 grams per ton of gold, containing a total of 36,800 ounces of gold. This development marks a significant milestone for the company as it aims to resume gold production at its Georgetown Gold Processing Plant. The classification of these reserves is expected to support non-dilutive financing initiatives, aiding the company’s working capital needs for restarting gold production and other activities.
More about Laneway Resources Ltd.
Savannah Goldfields Ltd is a company operating in the gold mining industry, focusing on the extraction and processing of gold. The company owns and operates the Georgetown Gold Processing Plant in Far North Queensland, Australia, and its market focus includes the development and production of gold from its Agate Creek Project.
Average Trading Volume: 1,103,759
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$16.55M
See more insights into SVG stock on TipRanks’ Stock Analysis page.