Australia's Vertex Minerals rises on positive study for NSW gold mine

Vertex Minerals

03/01/2024 03:54

** Shares of Vertex Minerals  VTX.AX  rise as much as 11.1%
to A$0.150, set for best day since Dec 14, if gains hold 
    ** Stock marks the highest level since Dec 14 
    ** The gold and nickel explorer says positive financial
outcome from pre-feasibility study at Reward Gold mine in New
South Wales presents justification for development of mine plan
    ** Adds that study shows project will generate gross revenue
of A$150 mln ($101.37 mln) during 2 years
    ** Study shows potential gold production of 49,890 ounces at
the cost of A$1,712 per ounce - Vertex 
    ** Co expects to incur capex of A$28.5 mln in pre-production
    ** Stock up 22.1% in 2023 

   ($1 = 1.4797 Australian dollars)

 (Reporting by Sneha Kumar and Rajasik Mukherjee in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))