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  • Kibaran Resources Shares Onward And Upward On Graphite Progress 0 comments
    Jul 20, 2014 7:02 PM

    Kibaran Resources (ASX:KNL) shares have broken out - again.

    The stock hit an intra-day high of $0.425, and last traded at $0.41.

    Kibaran has doubled in value in just the last week, and compares to its market price of $0.125 in early June, and $0.05 in October last year.

    On the 14th July, Kibaran revealed its best intersections to date from the Mahenge Graphite Project in Tanzania.

    Reverse circulation drilling delivered 22 metres at 13.4% TGC, including 7 metres at 20.1% TGC; and 39 metres at 11.3% TGC, including 12 metres at 14.5% TGC and 6 metres at 15.5% TGC.

    These results could be just the tip of the iceberg considering that the graphite mineralisation is from surface, and remains open at depth and in all directions.

    A near-term key catalyst is a resource estimation upgrade which is well underway, with current development studies to be fast tracked to development decision.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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