New Frontier Minerals Says Queensland Deposit Mining Lease Application Advances to Technical Assessment; Shares Down 6%
MT Newswires Live
Jan 05
New Frontier Minerals (ASX:NFM) said the mining lease application over the Big One deposit within its NWQ project in Queensland progressed into the technical assessment phase, according to a Monday filing with the Australian bourse.
The application is supported by a development plan proposing an open-cut mining scenario aimed at testing and extracting near-surface copper mineralization, the filing said.
Preparatory earthworks are expected to start in the third quarter of the year, subject to approvals, per the filing.
Shares fell nearly 6% in midday trade Monday.
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