07:56 AM EDT, 10/02/2024 (MT Newswires) -- Xanadu Mines ( XANAF ) said Wednesday that the pre-feasibility study for its flagship Kharmagtai copper-gold project in Mongolia is in the final stages of a technical review and evaluation.

The company expects to release the results in mid-October. Xanadu said operatorship transition to Zijin Mining Group is in progress, with planning and funding discussions underway for the next stage of development.

"Subject to approval and funding, in 2025 Kharmagtai will launch into the final stages of pre-construction approvals, permitting and ultimately, development," said Colin Moorhead, Xanadu's executive chairman and managing director.