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King River Copper share rally could also result in a cash injection

The company recently tested 99.48% purity vanadium and 99.5% purity titanium.

Australian dollar notes
Positive news flow from King River’s Speewah project

King River Copper Ltd (ASX:KRC) has been one of the top performing shares on the ASX, with the share price tripling over the past one month, last trading at 13 cents.

The shares have been supported by the positive news flow from King River’s Speewah project in Western Australia, where it recently tested 99.48% purity vanadium and 99.5% purity titanium.

READ: King River Copper surges on positive test results for high purity vanadium

Importantly, the purity results have boosted the capability of the project’s product to meet vanadium flow battery (VFB) market requirements.

Share price rally could see cash injection from option exercise

King River had over 124 million listed options as at February 2, 2018 exercisable at 10 cents and expiring on 30 June 2018.

With the stock trading at 13 cents, the options are in-the-money and will enable the company to raise more than $12 million if all the options are exercised.

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

Metallurgical optimisation work on the 4.7 billion tonne JORC resource of vanadium, titanium, fluorite and iron at the Speewah project is ongoing.

An initial concept/scoping study is expected to be available early in April 2018.

Commencing gold drilling at Mt Remarkable

King River has also engaged its field geologists to reactivate the Mt Remarkable gold exploration programs in April.

Reverse circulation drilling is booked for May 1 and diamond drilling booked for the third week of May.

Quick facts: King River Resources Ltd

Price: 0.032 AUD

Market: ASX
Market Cap: $49.71 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