New Murchison Gold (ASX:NMG) is currently boasting +610% one-year returns on Wednesday, with gold above US$4,700 and appetite for junior explorers well and truly back, compared to the year of listlessness that was CY23. (A dark period in local market history this journalist cares not to remember.)
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That’s on the back of a jog on Wednesday, spurred by the company’s release of a December quarter update and, perhaps, the fact that the ASX has managed to avoid a total bloodbath despite the worst night of the year on Wall Street. (After all, the XJO’s only down a third of a percent – not too bad, really.)
New Murchison Gold has pushed out 184.74K tonnes of crushed ore through to Westgold’s Bluebird plant for 22.7Koz of gold (at a grade of 4g/t), but investors need to wait until January 27 to get an idea of cash flow. (That’ll be next Tuesday, in Week Five, for those who are playing at home.)
“Crown Prince continues to deliver strong ore production to the Bluebird mill, enabling significant cash flow generation for NMG,” NMG chief Alex Passmore declared.
“With a strong balance sheet, [we’re] well placed to advance our near-term production prospects within the broader Garden Gully tenure package.”
In a time of gold elevation – to put it lightly – it’s perhaps not surprising that companies with established operations and cheap prices are snapped up at incredible rates; 50.57M shares in NMG had traded hands ($3.35M turnover) just before 1pm AEDT on Wednesday versus a 4Wavg of 27.9M.
NMG last traded at 6.8cps today.
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