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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.