Western Australian gold explorer BMG Resources (ASX: BMG) has published annual report for the year to 30 June 2021. BMG kicked off the year with the acquisition of Oracle Mining and its three WA gold projects – Abercromby, Invincible and South Boddington – and has focussed its exploration efforts on the cornerstone asset, the Abercromby gold project in the Wiluna district.
Key outcomes included:
- $4 million capital raising comprising a $3 million placement and $1 million share purchase plan
- Transformational strategic acquisition of the Abercromby, Invincible and South Boddington gold projects through the purchase of Oracle Mining
- 3,000m maiden RC and diamond drilling program at the Abercromby Gold Project
- Aeromagnetic and radiometric survey at the Invincible Gold Project
- Identification of multiple high-priority targets at both Abercromby and Invincible gold projects
