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Xanadu Mines Ltd ( (AU:XAM) ) has provided an update.
Xanadu Mines Ltd has delivered a significant Pre-Feasibility Study for its Kharmagtai Copper-Gold Project, confirming its potential as a world-class copper-gold mine. This development has led to the transition of project operatorship to its joint venture partner, Zijin Mining Group Co. Ltd, which will guide the project through the Bankable Feasibility Study. The company is also advancing its exploration at the Sant Tolgoi Copper-Nickel Project and has successfully raised $7.5 million through an equity placement. The Kharmagtai Project’s progression could position Xanadu as a key player in the copper industry, with substantial implications for its stakeholders.
More about Xanadu Mines Ltd
Xanadu Mines Ltd is a mining company focused on the exploration and development of copper and gold projects. Its primary projects include the Kharmagtai Copper-Gold Project, which is positioned to be a low-cost, long-life copper-gold mine, and the Sant Tolgoi Copper-Nickel Project. Xanadu is involved in a joint venture with Zijin Mining Group Co. Ltd to advance these projects and strategically maximize shareholder value.
YTD Price Performance: 53.33%
Average Trading Volume: 170,458
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $56.07M
See more data about XAM stock on TipRanks’ Stock Analysis page.
