New Murchison Gold (formerly Ora Gold ASX:OAU) has reported an updated MRE for its Crown Prince project lifting the total contained ounces to 279koz at 3.9g/t Au. NMG is currently working through a Maiden Ore Reserve for Crown Prince underpinned by the updated MRE. Our Price Target is unchanged at $0.025 (150% TSR) with a Speculative Buy maintained. NMG is catalyst-rich over the next few months with the delivery of a Maiden Ore Reserve and Ore Purchase Agreement expected imminently.
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