Krakatoa Resources Limited (ASX:KTA) has lodged an application with the NSW Resources Regulator to conduct a diamond drill program at its Turon Project (100% owned) seeking approval for up to 1,770 metre of diamond drilling at several exciting shallow gold targets.
The drill program is expected to commence in the current month of July, subject to the approval from NSW Resources Regulator. Post-announcement, KTA stock surged by 15.789% to $ 0.044 (as on 01 July 2020, AEST 11:58 AM).
Disclaimer
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.
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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)
