Magnetic Resources Advances Western Australia Project With Updated Mining Proposal

MT Newswires Live

Apr 21

Magnetic Resources (ASX:MAU) lodged an updated mining proposal and mine closure plan for its wholly owned Lady Julie Gold Project in Western Australia's Eastern Goldfields with the Department of Mines, Petroleum and Exploration, following recent optimization work, according to a Tuesday Australian bourse filing.

The revision consolidates tailings storage at Lady Julie North 4 within the waste rock dump and incorporates improved geotechnical and hydrogeological studies for pit stability and water management, along with additional technical assessments addressing flood mitigation, waste rock classification, and environmental impacts, per the filing.

The company is continuing to respond to regulatory information requests following recent mining lease approvals and, with board support for the Genesis Scheme and no superior offer available, is recommending that shareholders vote in favor of the scheme, the filing added.

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