Two Mining Stocks With Price Sensitive Announcement – PUR And WSA

  • Jan 09, 2019 AEDT
  • Team Kalkine
Two Mining Stocks With Price Sensitive Announcement – PUR And WSA

Pursuit Minerals Limited (ASX: PUR)

Pursuit Minerals Limited (ASX: PUR) had made an announcement about the geochemical results with the help of the press release. As per the press release dated January 9, 2019, the company had got the geochemical results with the help of re-sampling which was done of eleven historical drill holes with respect to Koitelainen Vosa Prospect on Koitelainen Project which happens to be in northern Finland. The issued release also stated that the high-grade vanadium magnetite concentrates were the result of vanadium mineralization. Intervals in holes M374176R305, M374176R306 and M374176R333 have witnessed the magnetite concentrate values of 3.1%, 3.3% and 3.6% V2O5, respectively. 

The company had also stated that there are expectations of the further geochemical results with respect to additional five historical drill holes. These expectations are from Koitelainen Vosa Prospect. According to the company, geochemical data which would be received from sixteen re-assayed historical drill holes would result in upgradation of Exploration Target to JORC Inferred Mineral Resource. The Exploration Target which has been referred here relates to Koitelainen Vosa Prospect. Let us now understand how the above-mentioned stocks have been performing today. At the time of writing (AEST 3:26 PM), the stock has been witnessing favourable momentum. The stock price of Pursuit Minerals Limited is trading at A$0.067 per share which implies the rise of A$0.032 per share or 91.429%. The market capitalization of Pursuit Minerals is circa $4.74 million.

Western Areas Limited (ASX: WSA)

Western Areas Limited (ASX: WSA) had also come forward and made an announcement related to the Odysseus Project Update. According to the company and as per the press release dated January 9, 2019, the works related to early capital as well as post DFS planning activities with respect to Odysseus Project have been ramping up according to the plans as well as budget. The published release also stated that to speed up the dewatering, Schlumberger submersible pump had been introduced. The company had stated that development activities related to high voltage electrical reticulation as well as surface water management ponds had been done and these are also in operation. Moreover, the upgradation of the present 520-person camp is also done so that initial works can be executed well.  The release also stated that the optimization studies with regards to orebodies AM5 as well as AM6 mining are also ramping up at the decent pace.

However, the stock price of Western Areas Limited is trading at A$2.090 per share which implies the rise of A$0.040 per share or 1.951%. The stock price of Western Areas is also trading towards the lower level. The market capitalization of Western Areas is ~$560.65 million. The annual dividend yield of WSA stood at 0.98%. We would now understand how the stock of WSA had performed in the past few months. Over the span of previous 6 months, the stock had delivered the return of -39.88% while in the previous three months, the stock delivered -21.46% return.


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