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Western Gold Resources Ltd. ( (AU:WGR) ) has issued an update.
Western Gold Resources Ltd. has announced a significant upgrade in its Scoping Study for the Gold Duke Project, projecting an increased cash surplus of $56.1 million at a gold price of A$4,500/oz, a 47% rise from previous estimates. The study highlights enhanced project economics with a 53% increase in tonnes and a 26% rise in gold ounces, alongside the addition of Joyners Find North and South Pits. The company has secured a mining contractor and a toll milling agreement, yet the project’s viability remains contingent on securing $8-10 million in capital funding, with potential implications for existing shareholders.
More about Western Gold Resources Ltd.
Western Gold Resources Ltd. operates in the mining industry, focusing on gold exploration and development. The company is involved in projects that aim to extract and process gold, with a particular emphasis on the Gold Duke Project.
Average Trading Volume: 608,064
Technical Sentiment Signal: Buy
Current Market Cap: A$36.8M
For a thorough assessment of WGR stock, go to TipRanks’ Stock Analysis page.