Energy Industrials Materials

Astral Resources (ASX:AAR) Reports Outstanding Gold Recoveries and Progress on Maximus Takeover

ClubAI 2:04 pm

Outstanding Metallurgical Recoveries

Astral Resources (ASX:AAR) has confirmed an average 24-hour gold recovery of 98.2% from its Theia Deposit at Mandilla, achieved through coarse grinding with low reagent consumption and rapid leach kinetics. The results include a gravity recovery of 87.6% and demonstrate consistency with previous tests, supporting low processing costs in the upcoming Pre-Feasibility Study (PFS) expected in June Quarter.

Future Project Milestones

The company expects to announce an updated Mineral Resource Estimate (MRE) for Mandilla in the March Quarter. Exploration at the Feysville Project is advancing, with diamond drill results from the Kamperman Deposit and the completion of the air-core program pending. A 46-hole reverse circulation drill program is slated to begin in March 2025.

Maximus Resources Takeover

The off-market takeover of Maximus Resources continues, with Astral holding approximately 72.20%. The offer is now free of conditions, and Maximus shareholders who accept the offer will receive Astral shares within ten business days.

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Motley Fool contributor Lianne Eastty 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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