Krakatoa Resources Limited (ASX:KTA) received results from gold and multielement assay from the aircore drilling program that interpreted to have further heightened the prospective nature of the Bell Valley area.
Subsequent to the successful outcomes from the high-resolution drone survey at Bell Valley, KTA was quick to complete a high-resolution aeromagnetic survey across the entire Belgravia Project.
Two separate north-trending reef systems in Quartz Ridge and Box Ridge at Turon Project were identified through a detailed review of historical work during the quarter.
KTA also lodged an application with the NSW Resources Regulator to conduct a diamond drill program at the Turon Project, seeking approval for up to 1,770m of diamond drilling at several exciting shallow gold targets.
During the quarter, KTA raised $2,400,000 through the issue of 30,000,000 ordinary shares at $0.08 per share and its cash and cash equivalent stood at the end of quarter $686,000.
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)