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Fortunis Resources continues premium trade on the ASX

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Fortunis Resources (ASX: FOT) continues to climb the ASX ladder, with shares jumping 42.5% in the past week since the company began trading.

The company’s shares were last trading at A$0.285, a nice gain on its IPO price of $0.20.

Fortunis lit up the ASX boards the Wednesday before Christmas following a successful IPO that raised $2.8 million.

The company has entered into a Farm-in Agreement with Barrambie Minerals to earn up to a 51% interest in granted exploration licence E57/838 in the East Murchison region of Western Australia.

The tenement is 50 kilometres from Sandstone, and covers 63 square kilometres at the southern end of the Barrambie Greenstone Belt.

The regional Barrambie Greenstone Belt has been explored, with a focus on gold deposits associated with lithological and faults contacts and vanadium deposits contained within the layered intrusion.

A review of previous work done in the region suggests the potential for gold, copper and vanadium-titanium-iron mineralisation.

Access to the tenement is via the Sandstone to Meekatharra gravel road which passes through E57/838.

Fortunis is planning a systematic exploration program which includes multi element assessment.


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: Adveritas Ltd

Price: 0.175 AUD

ASX:AV1
Market: ASX
Market Cap: $32.83 m
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