Magnetic Resource’s Lady Julie North 4 (LJN4) deposit continues to evolve into a significant discovery with a 200m step-out hole reported this week returning 16m at 4.5gt/Au. This intercept confirmed the LJN4 deposit to a depth extent of at least 550m with a 700m strike length. We maintain our Speculative Buy recommendation with a $1.80 valuation. Further material news flow is anticipated over the next few months as the drill-out continues.
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