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King River Copper enters trading halt pending vanadium purity results

Shares surge 19% on strong volume before trading is halted.

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The company is awaiting metallurgical test results for the Speewah project

King River Copper Ltd (ASX:KRC) has been granted a trading halt pending an update from metallurgical testing on vanadium purities from the Speewah Vanadium-Titanium-Iron Project in Western Australia.

The trading halt was granted by the ASX and will remain in place until the earlier of the start of trading on Wednesday 28 February 2018 or when an announcement is made.

Keen recent interest in company

Before the halt was granted less than an hour after the opening, shares surged almost 19% to $0.057 on strong volume of more than 21 million.

Strong news flow from Speewah and the Mt Remarkable Gold Project has sparked keen market interest in King River Copper with shares reaching a 12-month high of $0.059 in late January.

READ: King River Copper’s shares surge higher following fluorite resource upgrade

The company recently revealed an upgraded resource of 27.2 million tonnes at 9.5% fluorite for the Windsor Fluorite deposit within the Speewah project.

Within this resource is a high-grade indicated and inferred resource of 6.7 million tonnes at 24.6% fluorite.

The company is planning to complete a scoping study into the feasibility of producing acid grade fluorspar from the Windsor fluorite deposit.

Acid grade fluorspar is a high-value product sold as a concentrate and used to manufacture hydrofluoric acid, fluorocarbon chemicals, foam blowing agents, refrigerants and for petroleum refining.

Acid grade fluorspar prices have increased recently to USD$480-520 per tonne for 97% fluorspar wet filter cake.

READ: King River Copper concludes $1.2 million placement for vanadium-titanium project

The company recently concluded a placement of shares to professional and sophisticated investors to raise $1.2 million.

In late 2017, a strike extension was revealed at the Mt Remarkable project.

Drilling assays have extended the main Trudi vein system to a potential strike length of nearly 1 kilometre.

Quick facts: King River Resources Ltd

Price: 0.026 AUD

ASX:KRR
Market: ASX
Market Cap: $40.39 m
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King River Resources Ltd - Elevator Pitch

Anthony Barton, non executive chairman of King River Resources Ltd (ASX:KRR), pitches the company to investors. For more information visit https://kingriverresources.com.au/

on 24/1/19

2 min read