Torque Metals reshapes leadership as high-grade Paris drilling drives growth push

The latest announcement is out from Torque Metals Ltd. ( (AU:TOR) ).

Torque Metals has initiated a major management transition, appointing the former Spartan Resources leadership team, including Simon Lawson as chairman-elect and Craig Jones as CEO and managing director-elect. The company ended the quarter with about $12.2 million in cash and potential additional funding from in-the-money options and a conditional placement, while launching a comprehensive geological and operational review of the Paris Gold Project.

Drilling at the Paris Gold Deposit continued to deliver strong high-grade results, extending mineralisation up to around 500 metres below the current resource boundary and confirming the continuity of its multi-lode system. These results support plans for further diamond drilling to refine new high-grade shoot boundaries and keep the interim mineral resource estimate update for the Paris Project on track for the June quarter, signalling a new growth phase built on an expanding resource base and strengthened leadership.

The most recent analyst rating on (AU:TOR) stock is a Buy with a A$0.55 price target. To see the full list of analyst forecasts on Torque Metals Ltd. stock, see the AU:TOR Stock Forecast page.

More about Torque Metals Ltd.

Torque Metals Ltd. is an Australian gold exploration company focused on advancing its Paris Gold Project in the South Kalgoorlie mining district of Western Australia. The company targets high-grade, multi-lode gold systems and positions itself as an emerging mid-tier gold player, supported by a strong capital base to fund ongoing multi-rig drilling programs.

Average Trading Volume: 3,245,331

Technical Sentiment Signal: Buy

Current Market Cap: A$304.5M

For detailed information about TOR stock, go to TipRanks’ Stock Analysis page.