Why Minerals 260 (ASX:MI6) Is Up 5.9% After Doubling Bullabulling Gold Resource To 4.5Moz – And What's Next

• Minerals 260 recently announced that it has doubled the contained gold at its Bullabulling project in Western Australia to 4.5 million ounces, following extensive drilling and an upgraded Mineral Resource Estimate that now includes a maiden resource for the Gibraltar deposit.
• This step-change in scale positions Bullabulling as one of Australia’s larger undeveloped gold projects and underpins Minerals 260’s plan to progress a pre-feasibility study as it works toward potential production by 2028.
• We’ll now examine how the upgraded 4.5 million ounce resource at Bullabulling shapes Minerals 260’s investment narrative and future growth ambitions.

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What Is Minerals 260's Investment Narrative?

To own Minerals 260 you really have to buy into Bullabulling becoming a meaningful gold operation under an ambitious but capital-intensive growth plan. The upgraded 4.5 million ounce resource is a clear positive for the story, strengthening the case for the recent A$220,000,000 raise, the new operating and development hires, and the push into the S&P/ASX indices. In the short term, the key catalyst now is the Bullabulling pre-feasibility study and what it implies for project economics, funding needs and timing to first production. The resource upgrade advances that narrative, but it does not change the near-term reality that the company is loss-making, has no revenue, and has already diluted shareholders heavily. Execution risk around project delivery, costs and further dilution remains front and centre for investors.

However, there is an important funding-related risk that current and prospective shareholders should keep in mind. Minerals 260's shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community span roughly A$0.28 to A$2.85 per share, underscoring how differently people view Minerals 260’s long-term earnings power. Set against a very large 1‑year share price gain and a still loss-making, capital-hungry Bullabulling build-out, this spread of views shows why it is worth weighing several contrasting opinions before forming your own.

Explore 4 other fair value estimates on Minerals 260 - why the stock might be worth over 7x more than the current price!

Build Your Own Minerals 260 Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Minerals 260 research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Minerals 260 research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Minerals 260's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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