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Talga Resources' shares flying on high grade graphite

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Talga Resources (ASX: TLG) attracted an ASX price and volume query before the Easter break as its shares continue to soar.

The stock and hit an intra-day high of $0.285 yesterday, which was up 21.7% from the previous close of $0.23.

Since October last year, the company has risen more than 5-fold.

In February, Talga made a breakthrough in single-step graphene recovery that would allow it to use unprocessed graphite ore from its Nunasvaara deposit in Sweden, by-passing intermediate processing stages.

Graphene can be described as a one-atom thick layer of graphite.

Nunansvaara carries a JORC Resource of 7.6 million tonnes at 24.4% graphite and is considered to be one of the world's highest grade graphite resources.

Takers of Talga's placement last month which raised $1.7 million at $0.085 have a paper profit of more than three times.

Those who participated in the placement and entitlement offer late last year are now sitting on even more handsome profits, as $1.48 million was raised at $0.05 per share.

The company is now valued at around $25 million.

 

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.

Quick facts: Talga Resources Ltd

Price: 0.42 AUD

ASX:TLG
Market: ASX
Market Cap: $91.88 m
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