Riversgold Limited (ASX: RGL) announced that at the time of writing it has signed a Right to Mine and Co-Operation Agreement with MEGA Resources to develop the Northern Zone Gold Project near Kalgoorlie. MEGA will fully fund development, mining, and haulage operations while also providing geological and engineering support.
Under the agreement, profits will be split 50:50 between MEGA and the project owners, Riversgold (80%) and Oracle Power Plc (20%). Additionally, 10% of project profits will be reinvested into drilling and grade control. MEGA is targeting first production in the March 2026 quarter, subject to final mining approvals and processing agreements. Riversgold has also secured firm commitments for a AU$1.8 million placement to support exploration at Northern Zone and the Tambourah Copper-Gold Project. Drilling programs are being designed to extend mineralisation, building on results that point to a potentially large-scale porphyry gold system.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
