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3D Resources Limited ( (AU:ADG) ) has issued an announcement.
Adelong Gold Limited announced the successful completion of due diligence by Great Divide Mining (GDM) on the Adelong Gold Project, paving the way for GDM’s staged acquisition and operational management of the project. This development allows GDM to acquire an initial 15% stake in Challenger Gold Mines Pty Ltd with plans to resume production at the Adelong Gold Plant within 12 months, ultimately aiming for a 51% ownership stake upon achieving gold production. Adelong Gold retains a 49% interest, with the agreement ensuring no cash contributions are required until production starts. This strategic partnership is set to enhance Adelong Gold’s position in the regional gold production industry.
More about 3D Resources Limited
Adelong Gold Limited is a company operating in the gold mining industry, focusing on the development and production of gold projects primarily in southern New South Wales. The company is involved in exploration and feasibility studies to expand its resource base and aims to establish a regional base for gold production.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$5.59M
See more data about ADG stock on TipRanks’ Stock Analysis page.
