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South Boulder Mines in pre-open pending maiden resource at Colluli

South Boulder Mines in pre-open pending maiden resource at Colluli

The ASX has granted a trading halt to South Boulder Mines (ASX: STB) pending an announcement of the maiden resource from the Colluli Potash project, with the company's shares placed in pre-open.

The Colluli story has been a very exciting one for South Boulder, as Colluli has been identified as the world's shallowest evaporite potash deposit, with the potential for open pit.

There has been a constant flow of positive drilling results over the past year, with the exploration target upgraded to 500 - 750 million tonnes of potash ores earlier in the month, from the initial 300 - 500 million.

The market has been a very strong supporter of the stock, with shares last trading at $3.51, which is 14 times higher than the $0.25 year low in January 2010.

 

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