AUSTRALIA – Metals and mining firms Resolute Mining Ltd (ASX:RSG) and St Barbara Limited (ASX:SBM) are trending this morning on the Australian Securities Exchange, gaining 6.47% and 6.33%, respectively.
Resolute Mining’s stock rose today after the company confirmed major gold discovery at Syama.
“The new discovery at Nafolo has the potential to transform our operations at Syama, and is a great vindication of our increased investment in exploration. These results are particularly significant as they intersect gold mineralisation with similar characteristics, size and tenor as the mineralisation within the eight million ounce Syama orebody,” said Resolute’s Managing Director and CEO, John Welborn.
The Nafolo discovery has potential for further mineralisation along strike to the south and down dip and these initial results suggest the Nafolo prospect is likely to add significant resources to the current mine plan at Syama, he added.
For St. Barbara Limited (ASX:SBM), its stock rose 6.33% in morning trade, a day after released its quarterly report, which showed continued strong operating cash flow. – BusinessNewsAsia.com