Do You Know Why King River Resources’ Shares Surged Over 4%?

Do You Know Why King River Resources’ Shares Surged Over 4%?

King River Resources Limited’s (ASX: KRR) shares are trading in green in today’s morning session. Although KRR has not released any price sensitive information today, it is believed that the market sees some potential in this mining and exploration company, as it has made significant developments in its projects in the recent past.

After completion of the drilling at Mt Remarkable Project (200km south of Kununurra), the company reported some remarkable results from the final batch of assays, demonstrating high-grade gold intersections to the east and below the main Trudi grid.

Notable Results of Final Gold Drill Assays Include:

3m @ 4.29g/t gold (Au) including 1m @ 6.7g/t Au from 27m

4m @ 19.88g/t Au including 1m @ 69.30g/t Au from 21m

2m @ 10.47g/t Au from 33m

Besides this, at the company’s 100% owned Speewah Specialty Metals (SSM) Project, KRR has been conducting testwork and studies, including Sulphuric Acid-Leach Tests, Heated Flooded Column Leach Testwork as well as Heated Tank Leach Testwork. And recently, these tests have delivered positive results, successfully showcasing impressive metal extractions from both lump and concentrates in sulphuric acid.

In March 2019, the company provided a Prefeasibility Study update on its SSM project, in which it reported significantly lower capital costs for the Beneficiation-Agitated Tank Sulphuric Acid Leaching-Solvent Extraction process.

The company plans to create shareholder wealth through the discovery and development of mineral deposits, and one of its core objectives is to provide an exciting opportunity to benefit from the global market demand and interest in Vanadium.

The company is transforming its focus from exploration to development and to do that successfully, it is tightening its exploration cost expenditure in order to focus only on areas which have compelling geological models.

The company’s Board of Directors consists of industry veterans who are helping the company in becoming one of the largest, lowest unit cost producers of Vanadium metal products in the world.

The company’s Chairman, Mr. Anthony Barton has a rich experience in capital markets, corporate finance, funds management and venture capital; he has spent considerable time in founding and growing various successful listed public companies.

Mr. Anthony Barton holds a Bachelor of Business (Accountancy) degree, and with his 34 years of commercial experience, he is making a significant contribution to the company’s Board.

Another important Board member is Mr. Leonid Charuckyj, who has a Bachelor of Engineering and Master of Engineering Science degrees and has served on a broad range of technical, engineering, management and corporate roles.

The company’s Director, Mr. Greg MacMillan is a Certified Practicing Accountant and a Chartered Company Secretary; with over 30 years of experience he has held various senior level executive roles in companies across the finance, mining and commercial sectors.

At the time of writing, i.e. on 1st May 2019 AEST 1:53 PM, the stock of the company is trading at a price of A$0.023, up 4.545% during the day’s trade with the market capitalisation of ~A$27.25 million.


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