New Murchison Gold Limited
New Murchison Gold (renamed from Ora Gold Limited, November 2024) holds a 677 km2 tenure package in WA's Abbotts Greenstone Belt. An April 2026 resource update reported 4.42Mt at 2.5 g/t Au for 359,000 oz contained gold, a 47% increase. The company is currently producing gold from the Crown Prince open pit (initial 30-month mine life, ~140,000 oz forecast) while advancing the Cloudkicker and Lydia pits and a Crown Prince underground study, generating trailing-twelve-month revenue of AUD $219.29M.
Notable vs. Peers
- Financials score of 10/10 is stronger than the peer average of 6.4/10.
- Trading within 0% of its 52-week high — strong recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · WA DEMIRS approved the Mining Proposal, Mine Closure Plan and native vegetation clearing permits for Crown Prince ahead of the June 2025 FID (Mining Commencement Notice submitted Nov 25, 2024; Mining Proposal/Mine Closure Plan Dec 16, 2024); exact approval date not located. · Source
- Jun 2025 · NMG's Board made its Final Investment Decision on the Crown Prince gold project (within its Garden Gully/Meekatharra ground), mobilising equipment and workforce to site the same day, alongside a $15M capital raise. · Source
- Jun 2025 · NMG completed its first blast at Crown Prince, described by the CEO as the commencement of groundbreaking; material was used for run-of-mine, crusher-pad and haul-road infrastructure. · Source
- Reached — date not disclosed · NMG announced Crown Prince had officially commenced production, with the first 10,000t of ore crushed, assayed and trucked to Westgold's Bluebird plant, ahead of the Sept 30, 2025 Ore Purchase Agreement deadline (announcement published Sept 8, 2025); exact calendar day not given. · Source
- Reached — date not disclosed · Genuinely reached, but no source found frames this with an explicit "commercial production declared" threshold statement or specific day: New Murchison Gold's Crown Prince mine (Western Australia) "officially commenced production" in September 2025 (ahead of a 2025-09-30 Ore Purchase Agreement target date), transitioning to steady-state output by early 2026. Ore is toll-treated at Westgold Resources' Bluebird processing facility -- NMG does not own or operate a mill of its own. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. [Task #538 re-verification, 2026-08-22] CONFIRMED CORRECT -- stronger citation added, one factual correction made. Fresh primary-source research (NMG's own 20 Jan 2026 ASX announcement read in full; quarterly $ figures from NMG's own media releases plus a broker initiation report; annual figures from filing aggregators corroborating each other) confirms real, large-scale, growing revenue -- this was the closest of the 16 heuristic-flagged tickers to the WWI/LOT/NMR shape on paper (no $ figure previously cited), but the underlying reality is the opposite of that shape: FY to 30 Sep 2025 (audited) reported A$17.96M revenue and A$4.79M net income (vs. A$0.02M / -A$2.71M the prior year) -- the company's first real audited sales year. Dec-2025 quarter: ~A$111M revenue, 22,766oz in 184,746t sold, cash A$92M. Mar-2026 quarter: "$63.6 million cash from sales of 173,174 tonnes," 16,660oz, realized A$6,994/oz vs. AISC A$3,326/oz, cash A$155.6M. Jun-2026 quarter: cash build A$46.1M, 15,455oz, cash A$201.7M, zero debt, unhedged, 58,183oz cumulative sold since first production. TTM to 31 Mar 2026: A$219.3M revenue, A$126.7M net income. Cash marched A$92M to A$155.6M to A$201.7M with zero debt and no capital raises -- only possible if product is genuinely being sold and paid for. Factual correction: the existing note characterized the Westgold Bluebird arrangement as "toll-treated" -- this is wrong. Per the companies' own Ore Purchase Agreement, Westgold outright purchases the ore in certified parcels (30-50kt/month), priced on contained gold at the prevailing monthly AUD gold price, taking a 17% margin -- an outright ore sale is stronger PRODUCTION evidence than toll treatment, not weaker, and NMG's revenue figures above are real sale proceeds, not a toll fee. No disclaimer language of any kind was found; the opposite exists -- NMG's own 20 Jan 2026 ASX release changed its financial year-end from 30 Sep to 30 Jun specifically "to align with gold producer peers," citing its 2025 "transition... from exploration to gold producer." No stage or milestone change; achievedDate left as-is (still null -- no single formally "declared" threshold statement found, but real sales clearly predate and exceed any such formality). · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of New Murchison Gold Limited. Geologist by training (BSc Hons Geology, UWA), with prior finance-industry roles including Head of Research at Patersons Securities and Executive Director at Commonwealth Bank of Australia. Former Managing Director of Rox Resources and Draig Resources (now Bellevue Gold).
Chief Financial Officer and Company Secretary of New Murchison Gold Limited. 25 years' resources-sector experience; former CFO/Company Secretary of Dacian Gold and Nusantara Resources, and CFO of Karora Resources through its merger with Westgold Resources.
General Manager of Operations at New Murchison Gold Limited. Mining engineer with senior site roles at Red 5, Westgold Resources and Newcrest, most recently Mining Manager at Darlot Gold Mine.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Franklin Gold and Precious Metals Fund, a real specialist, holds a small stake. The Chairman and a director both bought stock on the open market in late January 2026, but both then sold considerably more stock days later -- an unclean pattern that limits the score.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.
Garden Gully Gold Project Mineral Resource Statement (May 2026, effective ~1 Apr 2026, announced on ASX 25 Jun 2026): 4.42 Mt @ 2.5 g/t for 359,300 oz gold, a 47% increase over the Nov 2024 estimate including reconciled production. Crown Prince (228.4koz) is the company's currently producing open pit/underground operation; Cloudkicker (31.3koz) and Lydia (55.1koz, maiden) are newer additions. 71% Measured+Indicated.