Insights

Australasian Gold (ASX:A8G) share price explodes 65% on project updates

Shares in the gold exploration company are soaring on the back of two positive project updates.
The post Australasian Gold (ASX:A8G) share price explodes 65% on project updates appeared first on The Motley Fool Australia. –

The Australasian Gold Ltd (ASX: A8G) share price is soaring today following the release of a project update.

The company announced it has officially struck gold at its May Queen Gold Project. Meanwhile, a date for the beginning of exploration at its Mt Peak Lithium Project has been set.

Right now, the Australasian Gold share price is 43 cents, 65.38% higher than its previous close. Shortly after open, the share price rocketed to a new high of 49 cents but has since pulled back a little.

Let’s take a closer look at today’s news from the gold exploration company.

Today’s news from Australasian Gold

The Australasian Gold share price is surging higher this morning following news about 2 of its projects.

Perhaps the most exciting news is the results of the company’s May Queen Project maiden drilling program.

The drilling program has found evidence of a potential gold-copper porphyry system, with assay results including 6 metres at 1.99 grams of gold per tonne from 35 metres and 1 metre at 9.39 grams of gold per tonne from 68 metres.

Additionally, surface rock chip sampling found up to 2.66 grams of gold per tonne and 3.43% copper at the project.

Australasian Gold will now complete more geophysical surveys to define potential silica enriched areas with possible disseminated sulphides. The survey’s results will help a follow-up reverse circulation drilling program that’s set to begin in the coming months.

The company also announced that it plans to begin exploration at its Mt Peak Lithium Project on Sunday.

Four geologists will begin conducting surface and rock chip sampling after satellite image investigations highlighted areas with pegmatite outcrops within the project.

Australasian Gold share price snapshot

Today’s gains have added to the strong recent performance of the Australasian Gold share price.

Right now, the shares are trading 115% above their Initial Public Offering (IPO) price in May 2021.

The post Australasian Gold (ASX:A8G) share price explodes 65% on project updates appeared first on The Motley Fool Australia.

Should you invest $1,000 in Australasian Gold right now?

Before you consider Australasian Gold, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Australasian Gold wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Australasian Gold (ASX:A8G) share price explodes 80% higher before being halted, then resumed

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!