Stock Analysis

• The approvals are more than eight times the size of the company's original programme, which will test below the old workings.

• An updated scoping study for the Cowboy State Mine sets out the scale-up, with a pilot plant and recovery work supporting the model.

• The completion was reported on 30 October, with the refinery held through a newly acquired US subsidiary, Nexus Metals LLC.

• The company reported resource and metallurgical milestones across its Brazilian projects in the September quarter.

• The company plans 40,000 metres of drilling and is also linked to Botswana interests.

• Other projects continue, but the company's funding position is described as tight.

• Heap leach operations began during the quarter for the first time in almost 20 years, with refurbishment continuing.