Ausgold’s recent Katanning (KGP) MRE update saw the project reach the +3Moz mark with a total MRE of 89Mt at 1.06g/t Au for 3.04Moz. The updated KGP MRE delivered a +400Koz increase in contained ounces and an overall 13% increase in grade. In this note, we discuss recent MRE changes and progress at the Katanning Gold Project. Our valuation is increased from $0.12 to $0.13 with a Speculative Buy recommendation. We note that the recent strong performance in the $A gold price provides an $0.16 valuation for AUC using current spot gold prices.
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