Ausgold Limited (ASX:AUC) Reports Quarterly Progress on Katanning Gold Project
Operational Achievements
Ausgold Limited (ASX:AUC) has made substantial strides in its Katanning Gold Project (KGP) during the December 2024 quarter. Key components of the project’s Feasibility Study (FS) advanced, including optimisation of pit designs and metallurgical testwork completion. The company has begun the design of its tailings storage facility and has made significant progress in permitting and approvals.
The ongoing 19,000m Reverse Circulation (RC) drilling program has yielded promising results, with multiple strong gold intercepts reported in the Central Zone. Notable assay results include 1m at 94.20g/t Au and 14m at 4.58g/t Au.
Financial Performance and Cash Position
By the end of the quarter, Ausgold maintained a robust cash position of $18.7 million, providing a solid foundation for further development of the KGP. During the quarter, the company’s expenditures largely supported exploration and mining studies.
Future Outlook
Looking ahead, Ausgold is committed to advancing the KGP with plans to progress various engineering studies and environmental assessments in the coming quarter. The company is also expanding its community and stakeholder engagement efforts, which includes the establishment of a local office and planned forums.
Board and Executive Changes
The company welcomed new executives, including Chief Operating Officer Mark Mitchell, and announced the appointment of Paul Weedon as a non-executive director. These additions aim to bolster Ausgold’s capability as it prepares for full-scale development of the project.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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