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Maximus Resources Advances Gold and Lithium Projects; Faces Takeover Proposal
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Maximus Resources Advances Gold and Lithium Projects; Faces Takeover Proposal

Story Highlights
  • Maximus Resources focuses on gold and lithium projects in Western Australia.
  • The company reports significant drilling results and a takeover proposal from Astral Resources.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.

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Maximus Resources Limited ( (AU:MXR) ) has provided an update.

In its December 2024 quarterly report, Maximus Resources Limited highlighted significant progress in its gold and lithium projects. Key developments included the submission of a mining proposal for the Hilditch gold deposit, successful metallurgical testing at Eagles Nest, and promising results from drilling at 8500N Paleochannel. Additionally, the company completed essential studies for the Larkinville project. On the lithium front, Maximus secured continued funding from KOMIR and confirmed high-grade spodumene mineralisation at Kandui and Bird Rock prospects. Financially, the company ended the quarter with $3.99 million in available funds and received a takeover proposal from Astral Resources, which acquired a significant stake in Maximus, leading to an exclusivity agreement for further negotiations.

More about Maximus Resources Limited

Maximus Resources Limited (ASX:MXR) is a mining company focused on gold development and exploration, primarily through its Spargoville Gold Project near Kambalda in Western Australia. The company is also involved in lithium exploration under the KOMIR Lefroy Lithium Joint Venture.

YTD Price Performance: 3.57%

Average Trading Volume: 10,289

Technical Sentiment Consensus Rating: Sell

Current Market Cap: €15.76M

For detailed information about MXR stock, go to TipRanks’ Stock Analysis page.

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