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Meeka Gold Limited ( (AU:MEK) ) has shared an update.
Meeka Gold Limited has made significant strides in advancing its Murchison Gold Project during the December 2024 quarter. The company has successfully funded the development through an institutional placement and released an expanded feasibility study that shows a substantial growth in ore reserves and production estimates. Key developments include the transportation and installation of a larger ball mill, the commencement of various construction projects, and the awarding of an open-pit mining contract to Iron Mine Contracting Pty Ltd. The company is on track to begin mining operations in early 2025, with first ore expected by April. The feasibility study forecasts a 40% increase in production, with an average of 65,000 ounces per annum over the first seven years, resulting in a projected pre-tax free cash flow of $1 billion over a ten-year production plan. With $55 million in cash and no debt, Meeka is well-positioned financially to achieve its mid-2025 gold production goal.
More about Meeka Gold Limited
Meeka Gold Limited, also referred to as Meeka Metals Limited, operates in the gold mining industry, focusing on the development and production of high-grade gold mines. The company’s primary project is the Murchison Gold Project, which it wholly owns. Meeka is committed to expanding its gold production capabilities and has demonstrated substantial progress in developing its operations in Western Australia.
YTD Price Performance: 46.51%
Average Trading Volume: 9,760
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €164M
For detailed information about MEK stock, go to TipRanks’ Stock Analysis page.
