Monumental Gold’s Update: A Significant Move into the Oil and Gas Sector
In a recent development, Monumental Gold Corp. has announced that it has received final approval from the TSX Venture Exchange to participate in a call option and royalty agreement for two oil wells in New Zealand. This move marks an exciting step forward for the company, as it plans to invest approximately NZ$800,000 in the project.
What Does This Mean for MNRG Stock?
The refurbishment and restart of these oil wells will provide Monumental Gold with a significant share of the oil and gas revenue. The company expects to begin work on the project by early 2025, which is expected to boost its earnings prospects. As a result, Monumental’s shares are anticipated to resume trading at the end of December 2024.
A New Era for MNRG Stock?
This development has sparked significant interest in Monumental Gold Corp.’s stock, and investors are eager to see how this project will unfold. With its investment and participation in the oil well refurbishment, Monumental Gold is poised to capitalize on a growing demand for energy resources.
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