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Uranex's shares climb higher on strong volume

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Uranex's (ASX: UNX) shares closed 14.3% firmer on Friday with the volume of 2.4 million shares, which is one of the company's most actively traded days recently.

The company recently wrapped up a diamond drilling program at its wholly-owned Nachu graphite project in Tanzania.

The program covered 13 holes, with core logging and cutting underway.

Late last month, Uranex raised $2 million from a share placement to sophisticated investors at an issue price of $0.11 per share, providing financial certainty to advance Nachu towards a maiden resource and scoping study in first quarter 2014.

Uranex shares have been rising recently following multiple visible intersections of graphite.

 

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ASX:UNX
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