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The latest announcement is out from Magnetic Resources NL ( (AU:MAU) ).
Magnetic Resources NL has announced the discovery of a potential fourth high-grade core zone at its LJN4 site, with follow-up drilling already underway. This development could significantly enhance the company’s resource base, potentially increasing the underground mining potential of the LJN4 deposit. The company has recently completed a $35 million capital raising to support ongoing drilling and feasibility study optimization, aimed at reducing capital expenditure and refining execution strategies.
The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.
More about Magnetic Resources NL
Magnetic Resources NL operates in the mining industry, focusing on the exploration and development of mineral resources. The company primarily targets high-grade gold deposits, with significant operations in the Laverton region of Western Australia.
Average Trading Volume: 366,154
Technical Sentiment Signal: Sell
Current Market Cap: A$360.2M
See more insights into MAU stock on TipRanks’ Stock Analysis page.