Minerals 260 Shares Climb Nearly 8% as Gold Developers Rally With Bullabulling Investment Decision in Sight
The company's Bullabulling project has a 6.2-million-ounce gold resource, with a final investment decision targeted for early 2027.
SYDNEY — Shares of Minerals 260 Ltd. rose almost 8% on Monday as gold stocks led a rebound in the resources sector.
Minerals 260 shares gained 5.75 cents, or 7.67%, to 80.75 Australian cents, after trading between 75.5 cents and 81.5 cents. About 4.1 million shares changed hands, and the company was valued at about A$2.1 billion.
The rise came as resources bounced. The ASX 200 Materials index rose 1.8% in the morning, with gold and lithium miners among the top gainers.
No new announcement was found on Monday.
Bullabulling
The Bullabulling Gold Project hosts a resource of 190 million tonnes at 1.0 gram per tonne gold for 6.2 million ounces.
Drilling continues to support it. In October, Minerals 260 reported that ongoing drilling at Bullabulling, 25 kilometers south-west of Coolgardie, had strengthened confidence in the 6.2-million-ounce resource.
Funding
Franco-Nevada's aggregate financing support for Bullabulling has reached A$420 million, following an A$220 million package provided in February 2026.
Timeline
The company is targeting a final investment decision in early 2027 and potential first gold production in the second half of 2028.
The stock is up about 169% over the past year.
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