Uranex Limited (ASX:UNX) has cited recent metallurgy results from its Nachu graphite project in Tanzania and an investor roadshow in its response to and ASX price query.
Shares in the company have pencilled in a near 100% rise since trading at $0.095 in February, and rose 20% yesterday alone when it touched an intraday high of $0.175.
Shares are now trading at $0.17.
Uranex is enjoying positive investor sentiment towards graphite, spurred by the rise of Syrah Resources (ASX:SYR) to its current market cap of over $500 million.
Uranex is trading at around a $40 million, with further potential upside as more exploration and development is conducted at Nachu.
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