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Ora Gold Ltd. ( (AU:NMG) ) has provided an announcement.
New Murchison Gold Limited has announced a positive feasibility study for its Crown Prince Gold Deposit in Western Australia, projecting pre-tax cash flows of $226 million over 30 months at current gold prices. The study highlights low capital expenditure requirements due to an agreement with Westgold Resources and plans to commence mining in June 2025. The project is expected to produce 140,000 ounces of gold, with potential for expansion through further exploration of underground resources and nearby deposits. The company aims to leverage its tax loss position to offset initial profits, and regulatory approvals have already been submitted.
More about Ora Gold Ltd.
New Murchison Gold Limited (ASX:NMG) operates within the gold mining industry and focuses on gold exploration and production. The company’s primary project is the Garden Gully Gold Project, and it has an Ore Purchase Agreement with Westgold Resources Limited for the haulage and processing of its gold. NMG is listed on the ASX under the code NMG.
Average Trading Volume: 25,147
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €46.55M
Learn more about NMG stock on TipRanks’ Stock Analysis page.
