The blow mentioned Mining stocks have announced significant updates today. Lets take a closer look at these stocks-
VRX Silica Limited (ASX: VRX)
Silica Sand Supllier, VRX Silica Limited (ASX: VRX) today announced that it has received strong interest for the purchase of significant tonnages of silica sand products from its two Arrowsmith Silica Sand Projects (Arrowsmith), and its Muchea Silica Sand Project (Muchea). The company is looking to progress this strong interest into binding offtake agreements before committing to funding arrangements for processing plant requirements. The company also informed that it has identified various markets in the Asia-Pacific region and met with a number of potential offtake customers for the sale of silica sand products from Arrowsmith and Muchea.
The share price of the company decreased by 59.33% in the past six months and last traded at $0.063 with a market capitalization of circa $24.4 million as on 16 April 2019.
Medusa Mining Limited (ASX: MML)
Medusa Mining Limited (ASX: MML) has today announced a JORC Code 2012 compliant Mineral Resource estimate for the Royal Crowne Vein Gold Deposit which is located around 3 km from the Co-O mill. An Inferred Resource is estimated at 50,300 ozs at a grade of 5.03 g/t gold contained in 311,300 tonnes of ore using a cut-off grade of 2.0 g/t gold. The estimated were calculated on the basis of assay results of core samples from 12 historical drill holes and 20 new drill holes for 1,885 and 5,087 drilled metres, respectively.
The share price of the company increased by 11.43% in the past six months as on 15 April 2019. MML’s shares last traded at $0.385 with a market capitalization of circa $81.04 million as on 16 April 2019.
Nexus Minerals Limited (ASX: NXM)
Nexus Minerals Limited (ASX: NXM) has received all results from final 13 of the 35 holes drilled at Crusader Prospect. As per the announcement, every hole intersected significant mineralisation, with stunning intercepts such as 35m @ 2.85g/t Au, including 15m @ 6.23g/t Au and 29m @ 2.85g/t Au including 8m @ 7.20g/t Au, demonstrating the significant prospectivity of this mineralised corridor.
The share price of the company decreased by 34.44% in the last six months as on 15 April 2019. NXM’s stock last traded at $0.059 with a market capitalization of circa $6.91 million as on 16 April 2019.
Marindi Metals Limited (ASX: MZN)
Gold exploration company, Marindi Metals Limited (ASX: MZN) has received encouraging results from recent shallow auger drilling at the Kit Kat Gold Prospect, suggesting that this area could host high-grade gold in structural-hosted quartz veins, as seen at the nearby high-grade Kat Gap Gold Prospect ~3.5km to the north-west. Following the release of this news, the share price of the company decreased by 57.14% as on 15 April 2019.
The share price of the company decreased by 57.14% in the last six months, as on 15 April 2019. MZN’s shares last traded at $0.004 with a market capitalization of circa $6.27 million as on 16 April 2019.
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