Latest Magnetic Resources (ASX:MAU) News

Magnetic Resources NL has secured a pivotal native title agreement with the Wangkatja Tjungula Aboriginal Corporation, removing key regulatory hurdles for the Lady Julie Gold Project in Western Australia.

Magnetic Resources NL has significantly increased the Lady Julie North 4 gold deposit resource to 1.55 million ounces, supported by ongoing high-grade drilling and exceptional metallurgical recoveries of up to 97.5%. Feasibility studies for combined open pit and underground mining are advancing, targeting 150,000 ounces per annum over eight years.

Magnetic Resources NL reports significant expansion of the Lady Julie North 4 gold deposit, with recent drilling extending mineralisation to over 1,000m depth and a feasibility study underway to explore both open pit and underground mining potential.

Magnetic Resources has significantly increased the gold resource estimate at its Lady Julie Gold Project to 1.75 million ounces, advancing plans for concurrent underground mining and an expanded processing plant.

Magnetic Resources NL reported a $4.39 million net cash outflow from operations in Q4 2024 but strengthened its balance sheet with a $9.41 million financing inflow, ending the quarter with $11.6 million in cash.