Australian explorer, Kind River Resources Limited (ASX: KRR) in its June quarterly report has informed about significant developments that appear to bolster its project-related activities.
During the June quarter 2020, KRR reported on metallurgical testwork results and progress in compiling the Speewah Prefeasibility Study (PFS) on its wholly owned Speewah Specialty Metals (SSM) Project.
With the production of first >4N (>99.99% Al2O3) High Purity Alumina (HPA), PFS has advanced, while process optimisation is ongoing for further improving recoveries and testwork for verifying grade and alumina phase.
KRR recently announced a Security Purchase Plan with an issue price of AUD 0.033 per share and one free attaching option for every two shares issued. The funds raised would be utilised in working capital, advancing SSM project and completing exploration on its gold projects, including Mt Remarkable and Tennant Creek gold project areas.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.
Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)