Emu (ASX:EMU) commissioned external mining models at its Badja gold project in Western Australia, noting that current gold prices favor economic gold production, according to a Thursday Australian bourse filing.
Accessing high-grade gold shoots via an initial open-cut mining operation is thought likely to lead to economic underground gold production, the firm's non-executive chairman Peter Thomas said.
The modeling will focus on the Gnows Nest and Monte Cristo areas within the project.
Its shares rose 10% on market close on Thursday.
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