Magnetic Resources has reported a major update on its Lady Julie Gold Project that could significantly impact the company’s development prospects. The revised Combined Laverton Region Mineral Resource Estimate now totals 40.72 million tonnes at 1.77g/t gold, containing 2.32 million ounces. Notably, the Lady Julie North 4 (LJN4) resource now represents 91% of these resource ounces, with an impressive 25% increase in contained gold compared to the previous update. The LJN4 deposit, which consists of multiple high-grade core zones—one of which remains open at depth—is critical to the overall project, now nearing the 2-million-ounce milestone. Recent deeper infill drilling at LJN4 has bolstered confidence in the continuity of mineralization and added significant gold inventory. The drilling results, integrated with a refined structural geology model, have enhanced the accuracy of wireframes guiding the resource estimate. In parallel, engineering work is progressing swiftly within an advanced Feasibility Study. This study envisions the construction of three open pits, a concurrent underground mine, as well as a CIL processing plant and supporting infrastructure, all underpinned by promising metallurgical testwork that has now improved gold recovery via additional flotation and fine grinding stages. The development progresses with a suite of updates including detailed processing plant design, quotations for power supply and mobile equipment, and preliminary underground design and geotechnical reviews. Furthermore, recent steps in the permitting process—highlighted by a significant Native Title Agreement—are expected to further accelerate approvals. This advancement lays the groundwork for the project to be “shovel ready” as execution draws near. The news carries bullish sentiment for Magnetic Resources, as continuous resource upgrades and evolving Feasibility Study work reduce development risk while demonstrating the potential for long-term value creation. The significant increases in contained gold and the robust engineering progress bolster confidence in the project’s economic viability. On the bearish side, some uncertainty remains regarding final permitting outcomes and potential changes to operational parameters, but these risks appear manageable given the depth of current technical and resource data.