Shares in IronRidge Resources Ltd (LON:IRR) added over 12% in early deals as it posted half year results to end December - a period, which was characterised by extensive exploration work.
Its main project is in Gabon, with two permit areas Belinga Sud and Tchibanga. In Australia it has two assets Monogorilby and Quaggy.
Monogorilby is prospective for titanium and bauxite whilst Quaggy has shown strong anomalies of platinum, palladium, nickel cobalt and copper.
Fieldwork at Tchibanga in the period confirmed the presence of iron rich duricrust and canga type iron ore mineralisation at average 44% iron, and maximum 57.8%and low contaminants forming surface weathering plateaus over a combined surface area of 2.3 sq km in the south-eastern portion of the project area.
Notably, an additional license application (Tchibanga Sud) was submitted to the Ministry of Mines and Industry, the firm added.
At Belinga Sud, more than 165 line km was traversed and mapped over five target areas, with a total of 90 samples collected for assay.
In Australia, resource estimation and metallurgical test-work programmes are ongoing, the results of which will be released in due course, the firm said.
In keeping with a firm at this stage, the group's loss before tax was A$648,702 compared to a loss of A$417,572.
Shares in London added 12.5% to stand at 4.5p each. That's 200% more than where they were at the beginning of March - at 1.5p.