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St. George Mining Ltd. ( (AU:SGQ) ) has issued an announcement.
St George Mining reported a 75% increase in the mineral resource estimate at its Araxá niobium-rare earths project to 70.91 million tonnes, confirming it as one of the world’s largest and highest-grade carbonatite-hosted rare earth deposits outside China. The resource, largely near-surface and amenable to open-pit mining with free-digging material in the top 100 metres, underpins more robust economic studies and offers significant upside from additional niobium tonnes.
New drilling, including the project’s best intercept to date, indicates further resource growth potential that is not yet captured in the current estimate. St George advanced its development strategy through expanded downstream alliances with U.S., European and Brazilian partners, secured land for potential processing facilities, obtained state tax relief in Minas Gerais, and ended the quarter with about $43 million in cash to support ongoing project development.
The most recent analyst rating on (AU:SGQ) stock is a Buy with a A$0.23 price target. To see the full list of analyst forecasts on St. George Mining Ltd. stock, see the AU:SGQ Stock Forecast page.
More about St. George Mining Ltd.
St George Mining Ltd. is an Australian-listed resources company focused on developing the Araxá niobium-rare earths project in Brazil. The project targets carbonatite-hosted rare earths and niobium, positioning the company within the strategic critical minerals supply chain outside China.
YTD Price Performance: 36.36%
Average Trading Volume: 22,727,817
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$530.6M
For detailed information about SGQ stock, go to TipRanks’ Stock Analysis page.