Marmota (ASX:MEU) said it is prioritizing and accelerating the advancement of its Gawler gold project in South Australia, the firm's chair, Colin Rose, said in a letter addressed to shareholders on Monday.
The firm said that the decision came after gold prices had reached record highs recently. The project provides "the fastest avenue to production and revenue," Rose added.
It also noted that metallurgical testwork resulted in significant gold recoveries from heap leach simulations at the project at Aurora Tank.
Its shares jumped 5% in recent trading on Monday.
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