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Variscan Mines Limited ( (AU:VAR) ) has shared an announcement.
Variscan Mines reported a strong December quarter, highlighted by government approval of the Preliminary Mining Plan for its San Jose Mine in Cantabria, a key permitting milestone that allows pre-works, underground development and trial mining ahead of a proposed restart. Concurrent underground drilling at the Udías Mine delivered some of the company’s highest-grade zinc intercepts to date, all outside the existing mineral resource estimate, underscoring significant resource expansion potential across the broader Novales-Udías system. The company also advanced metallurgical and geotechnical workstreams, bringing the San Jose Mine Re-start Study to about 95% completion, while strengthening its financial position through shareholder approvals and a post-period A$1 million convertible loan note facility to support ongoing exploration and development activities.
The most recent analyst rating on (AU:VAR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Variscan Mines Limited stock, see the AU:VAR Stock Forecast page.
More about Variscan Mines Limited
Variscan Mines Limited is an ASX-listed mineral exploration and development company pursuing an “Explorer-Producer” strategy, focused on advancing the Novales-Udías Zinc Project in northern Spain. Its primary activities centre on restarting the historic San Jose zinc mine and conducting underground exploration at the nearby Udías Mine, targeting high-grade zinc-lead mineralisation with potential for resource growth and future production.
Average Trading Volume: 5,681,771
Technical Sentiment Signal: Sell
Current Market Cap: A$12.48M
See more insights into VAR stock on TipRanks’ Stock Analysis page.