Nagambie Resources Limited ( (AU:NAG) ) has provided an update.
Nagambie Resources Limited has announced new high-grade antimony-gold intersections at its Nagambie Mine, highlighting substantial continuity in mineralized structures and the potential to significantly increase tonnage in its current Mineral Resource Estimation. The announcement comes amid a surge in antimony prices, driven by increased demand and reduced supply, which could positively impact the company’s operations and market positioning. However, the company has retracted a previous production target due to non-compliance with ASX Listing Rules, advising investors not to rely on the aspirational production targets previously disclosed.
More about Nagambie Resources Limited
Nagambie Resources Limited is an Australian company operating in the mining industry, primarily focusing on the exploration and development of antimony and gold resources. The company is engaged in high-grade antimony-gold discoveries at its 100%-owned Nagambie Mine, with a market focus on increasing mineral resource estimations and capitalizing on rising demand for antimony driven by military and solar energy applications.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €8.47M
For detailed information about NAG stock, go to TipRanks’ Stock Analysis page.