Mayfair Gold Files Technical Report for Fenn-Gib Project with 4.3 Million Ounces Resource Estimate

Written by Emily J. Thompson, Senior Investment Analyst

MFG+1.19%

Source: PRnewswire

Updated: 1h ago

0mins

Source: PRnewswire

Technical Report Submission: On January 15, 2026, Mayfair Gold submitted a technical report for the Fenn-Gib Project in accordance with NI 43-101 standards, revealing a resource estimate of 4.3 million ounces of gold, marking a significant advancement in the company's mining development efforts.
Resource Estimate Details: The Fenn-Gib Project currently hosts an estimated 181.3 million tonnes of mineral resources at a grade of 0.74 g/t Au, indicating strong economic potential that is likely to attract increased investor interest.
Executive Semi-Retirement: VP of Technical Services Richard Klue announced his semi-retirement on January 14, 2026, opting to assist Mayfair on an hourly basis, ensuring the project's continued progress while exploring non-executive opportunities.
Future Development Plans: The company aims to advance environmental approvals and engineering design within the next 2-3 years, targeting construction start in 2028 and initial production by 2030, reflecting confidence in the gold market and strategic positioning.

MFG

$8.49+Infinity%1D

Analyst Views on MFG

Wall Street analysts forecast MFG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MFG is 39.05 USD with a low forecast of 39.05 USD and a high forecast of 39.05 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Analyst Rating

1 Buy

0 Hold

0 Sell

Moderate Buy

Current: 8.390

Low

39.05

Averages

39.05

High

39.05

Current: 8.390

Low

39.05

Averages

39.05

High

39.05

Goldman Sachs

Neutral -> Sell

downgrade

$10 -> $9

Al Analysis

2026-01-08

Reason

Goldman Sachs

Price Target

$10 -> $9

Al Analysis

2026-01-08

downgrade

Neutral -> Sell

Reason

Goldman Sachs downgraded Magellan Financial to Sell from Neutral with a price target of A$9, down from A$10. The firm downgraded the shares relative to coverage reflecting ongoing downside risk to margins from mix impacts and ongoing weak performance outside Vinva, as well as valuation compared to peers. Capital management and associate performance present risks for the stock going into the result, the analyst tells investors in a research note.

About MFG

Mizuho Financial Group Inc is a Japan-based company mainly engaged in the banking, trust banking, securities, and other financial services. The Company operates through five business segments: Retail & Business Corporations Company (RBC), Corporate & Investment Banking Company (CIBC), Global Corporate & Investment Banking Company (GCIBC), Global Markets Company (GMC), and Asset Management Company (AMC). The CIBC segment operates for clients of large corporate corporations, financial corporations and public corporations in Japan. The GCIBC segment operates for clients of overseas-affiliated Japanese companies and non-Japanese companies. The GMC segment is engaged in investment business in interest rates, equity, among others. The AMC segment is engaged in the development and provision of products that meet the asset management needs of clients from individuals to institutional investors.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.