Westgold Resources (ASX:WGX) completed a scoping study at the Fortnum gold operation in Western Australia, according to a Tuesday filing with the Australian bourse.
An extension to the current operation is expected to deliver a 10-year integrated mine plan at a mineral resource estimate of 12.9 million tonnes of material at 2.7 grams per tonne grade of gold for 1.1 million gold ounces, the filing said.
Company shares rose past 4% in recent Tuesday trade.
Price (AUD): $3.15, Change: $+0.13, Percent Change: +4.13%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.