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Mineral Resources Ltd (ASX:MIN) offers contract crushing services to the mining industry in Australia. The Company serves gold, iron ore, tantalum, and coal companies.
The company has recently stated that it has received all assay results and completed data compilation for the McIntosh Joint Venture (MJV) drilling program completed in late October 2018. The MJV participants are Mineral Resources (51%) and Hexagon (49%).
This program was comprised of 10,672.9 metres of drilling, which was completed at the MJV project tenements in late October 2018. The program was managed and funded by Mineral Resources as part of their MJV agreement undertakings.
o advance concentrate marketing activities, development of the process flow sheet and undertake further downstream processing test work it was necessary to have access to large quantities of representative mineralised samples. At the conclusion of this drill program, the MJV has a sample inventory of nearly 14 tonnes related to the Mineral Resources and almost 1 tonne from the exploration prospects.
Drilling at Emperor and Wahoo provided important sample material and also generated several significant mineralised intercepts from infill and some extensional drill tests. The mineralisation trends around a major north-plunging regional anti-form with Emperor on the southeast limb and Wahoo on the northwest limb.
Wahoo mineralisation generally occurs as 3 to 15-metre-wide zones dipping moderately to steeply SE and truncated by late-stage granitic and mafic intrusives.
The few critical intersections at Wahoo mineralisation were:
- WRC009 6 metres at 6.6% TGC from 69 metres down hole
- WDD023 6 metres at 6.4% TGC from 50 metres down hole;
- WDD02 3 metres at 7.0% TGC from 31 metres down hole; and
- WDD025 13 metres at 5.4% TGC from 19 metres down hole.
Emperor is the main Mineral Resource under evaluation as part of the Feasibility Study being undertaken by MinRes.
The few notable intersections at Emperor were:
- ERD021 8 metres at 9.1% TGC from 140 metres down hole;
- ERD020 18 metres at 7.3% TGC from 113 metres down hole;
- ERD016 53 metres at 6.2% TGC from 138 metres down hole; and
- ERC0202 15 metres at 5.9% TGC from 88 metres down hole.
Now, letâs have a glance at the Mineral Resources Ltdâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $15.500, down by 3.246% during the dayâs trade with a market capitalisation of ~$ 3.01 Bn. The counter opened the day at $ 16.200, reached the dayâs high of 16.250 and touched a dayâs low of $ 15.380 with a daily volume of ~1,017,900. The stock has provided a Year Till Date return of 7.09% & also posted returns of -1.60%, 10.87% & -5.53% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 20.700 and touched 52 weeks low of $ 12.390, with an average volume of ~1,335,164 approximately.
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