Dundas (ASX:DUN) shares have gained 600% in a year; here’s why

2 min read | October 11, 2022 03:46 AM BST | By Ritwika

Highlights: 

  • Dundas has shared the latest updates from its exploration at the Central target today. 
  • As per the update, Dundas has reported massive, semi-massive and highly disseminated sulphides in the drilling hole. 
  • Backed by this update, Dundas shares were spotted trading over 46% higher at 12:24 PM AEDT on ASX today (11 October 2022).

The share price of Australian mining company Dundas Minerals Limited (ASX:DUN) went up 46.785% to trade at AU$1.027 apiece at 12:24 PM AEDT on ASX today (11 October 2022). 

In a year’s time, Dundas’ share price went up significantly by 600% on ASX and on a YTD-basis, the company’s share price gained over 653% on ASX (as of 12:48 PM AEDT today).

Today, Dundas has announced that it has successfully recorded an intercept of a mafic-ultramafic complex, which includes extensive zones of massive, semi-massive, highly disseminated and disseminated sulphides in the first drill hole (22CEDD001) at its Central exploration target.

What is the reason behind Dundas’ share price gain on ASX today?

Today Dundas released a significant update from its latest drilling at the Central exploration target. The company’s share price gained rapidly on ASX today, followed by the release of this update.  

In its latest update, Dundas has shared that extensive massive, semi-massive, highly disseminated and disseminated sulphides were intersected from 32m to 423.40m (downhole), and sulphidic quartz veins from 43.5m to 412.1m. A total of 358.37m of sulphides was intercepted, including:

Additionally, the company stated that the geological condition at Central is ‘complex’. The region consists of only one diamond drill hole, which is not sufficiently understood. Nonetheless, Dundas said that it would require assay results to confirm mineralisation and the hole also requires further drilling.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Sponsored Articles


Investing Ideas

Previous Next