Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)
Lithium
45.62
0.7%
Gold
2,675.20
0.82%
Copper
4.12
(0.82%)
Oil
69.76
1.04%
Bitcoin
98,179.22
4.06%
FTSE 100
8,149.27
0.79%
Nikkei 225
38,026.17
(0.85%)
Dow Jones
43,938.00
0.92%
Iron Ore
102.15
1.11%
USD/AUD
0.65
0.17%
Hang Seng
19,601.11
(0.23%)

BMG Resources (ASX: $BMG) retracts scoping study announcement

BMG Resources retracts scoping study


BMG Resources Limited (ASX:BMG) has retracted its previous announcement regarding the Abercromby Gold Project Scoping Study. The company acknowledged that it lacked a reasonable basis for the forward-looking statements due to a high proportion of inferred resources. BMG plans to conduct infill drilling to potentially upgrade resource classifications.

Summary of BMG Resources' announcement


BMG Resources Limited announced the retraction of its Scoping Study for the Abercromby Gold Project due to non-compliance with ASX guidelines on forward-looking statements. The original study included projections based on a significant portion of inferred mineral resources, which the company has now deemed unsupported. BMG plans to undertake an infill drilling program aimed at upgrading the resource classification from Inferred to Indicated, potentially leading to a revised Scoping Study. The retraction underscores the necessity for mining companies to rely on a solid foundation for financial and production forecasts.

Executive commentary on retraction


BMG has determined that it does not have a reasonable basis for the forward-looking statements in the Scoping Study Announcement, as required under ASX Guidance Note 31. As such, BMG retracts all production targets and forecast financial information included in the Scoping Study Announcement.

BMG RESOURCES LIMITED
BMG | ASX | Materials
0.0125-0.0005(-3.85%)
At close 20/11 (AEDT)
Market cap
$9.1M
Volume
16,810
DY Yield
PE Ratio
52 Week Range
0.007 - 0.019
1YR Return
N / A

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