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.
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.
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.