Meeka Metals (ASX:MEK) has poured first gold from its Murchison project, seeing shares jump up to 15 cents in early Wednesday trade as investors move in on what’s set to become a fresh producer.
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The big question is, with 1Y returns just under +340%, how much further can Meeka go?
The long-time-dormant explorer has recently hit a tear as the Murchison project pays (non-literal) dividends for the stock, ultimately underscoring a gold speccy that made it across the chasm to development.
“It is an impressive achievement by the team to deliver first gold on time and within 12 months of breaking ground,” Meeka’s chief, Tim Davidson, said.
“We are now focused on ramping up gold production toward our targeted 80koz per annum with the arrival of the third dig fleet and expanded open pit mining plan underway, and first ore from underground at Andy Well in the September 2025 quarter.”
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Traders will now be attempting to figure out to which extent the stock’s +335% YoY gains have already priced in the company’s producer status; a horizon towards which the company has been hurtling headlong since early June.
MEK last traded at 15cps.
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