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Highlights:
- WA1 Resources shares were trading over 18% higher on the ASX at 2:09 PM AEDT today (8 November)
- Recently, the company shared assay results from its drilling at the West Arunta Project.
Shares of WA1 Resources Ltd (ASX:WA1) gained significantly on the ASX during the afternoon trading session on Tuesday (8 November). The company’s share price surged by 18.749% to AU$2.090 per share on the ASX at 2:09 PM AEDT today.
The share price of WA1 Resources has gained by 736% on the ASX in the previous 12 months. Furthermore, the company’s share price has surged over 1293% on the ASX in the last month (as of 2:09 PM AEDT today).
Recent developments at WA1 Resources
WA1’s September 2022 quarter activity report:
On 19 October 2022, WA1 Resources released its quarterly activity report for the period that ended on 30 September 2022. The key takeaways from the report are as follows:
- WA1 Resources successfully completed the maiden West Arunta Project drill program in the September 2022 quarter.
- At present, the company is focused on detailed geological interpretation. The assay results are expected to come soon.
- WA1 Resources also completed the designing and planning of the initial airborne electromagnetic survey at the Hidden Valley Project in the same quarter.
- WA1’s Madura Project consultations are currently progressing with the objective of entering into heritage agreements to permit exploration.
- In the same quarter, WA1 Resources appointed Tom Lyons as a non-executive director of the company.
- WA1 reported a cash balance of approximately AU$2.7 million at the end of the September 2022 quarter.
Update from WA1’s West Arunta Project:
On 26 October 2022, WA1 shared the first results from the company’s maiden West Arunta Project drill program, which began in July 2022. The assay results from the drilling program at the West Arunta Project have revealed the following:
Image source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 26 October 2022
Meanwhile, the S&P/ASX 200 Materials sector (INDEXASX:XMJ) was quoted at 16,172.2 points, down by 0.142% or 23 points, at 2:33 PM AEDT today (8 November 2022).
