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Ausgold Limited ( (AU:AUC) ) has provided an announcement.
Ausgold Limited has signed a binding agreement to acquire a significant freehold land position crucial for the development of the Katanning Gold Project (KGP), resolving a legal dispute and enabling the re-optimization of the mine plan. This acquisition allows for increased gold production and reduced mining costs, while a $35 million capital raising will support further development activities. The company is set to commence a major 44,000m drilling program to expand resource growth and enhance early production years, positioning Ausgold favorably in the gold mining industry.
The most recent analyst rating on (AU:AUC) stock is a Buy with a A$2.05 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.
More about Ausgold Limited
Ausgold Limited is a company focused on the development of its 100%-owned Katanning Gold Project (KGP) located in Western Australia. The company aims to establish the KGP as a foundation for Australia’s next major gold mine.
YTD Price Performance: 120.24%
Average Trading Volume: 1,066,719
Technical Sentiment Signal: Buy
Current Market Cap: A$401M
For a thorough assessment of AUC stock, go to TipRanks’ Stock Analysis page.