logo-loader
viewKing Island Scheelite Ltd

King Island Scheelite in trading halt with offtake news imminent

The halt will remain until the start of trading on Monday, April 8, or when an announcement is released to the market.

ASX sign
The company is focused on a tungsten project on King Island

King Island Scheelite Limited (ASX:KIS) has been granted a trading halt by the ASX with an announcement pending on the execution of an offtake contract.

This halt will remain in place until the start of normal trading on Monday, April 8, 2019, or when the announcement is released to the market, whichever occurs earliest.

Shares in the company, which is focused on the Dolphin Tungsten Project on King Island in Bass Strait, last traded at 6.5 cents.

Dolphin is one of the highest-grade tungsten deposits in the world and hosts a resource of about 9 million tonnes at 0.73% tungsten, which increases to about 1.1 % as the ore body dips underground.

In an interview with Proactive Investors, the company’s executive chairman Johann Jacobs said: “We’ve been spending the last five years trying to establish the optimal way of restarting the mine.

“We’ve got to a point now where the first eight years of operation will be open cut and that will be followed by eight years of underground.”

Dolphin is on the southeast coast of King Island, the most western large island in Bass Strait, north of Tasmania.

Quick facts: King Island Scheelite Ltd

Price: 0.06 AUD

ASX:KIS
Market: ASX
Market Cap: $15.86 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of King Island Scheelite Ltd named herein, including the promotion by the Company of King Island Scheelite Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

King Island Scheelite revises Dolphin's tungsten reserve estimate in...

King Island Scheelite Ltd (ASX:KIS) executive chairman Johann Jacobs updates Proactive Investors on the revised mineral reserve estimate from the company's updated feasibility study at its Dolphin Tungsten Project near Tasmania   Jacobs says the reserve estimate is now 3 million...

on 5/6/19

2 min read