Shares in Kairos Minerals surge more than 20%

By Trevor Hoey. Published at Jul 13, 2017, in Mining

Shares in Kairos Minerals (ASX:KAI) resumed from a trading halt in startling fashion on Wednesday.

The release of maiden air core drilling results, confirming extensive shallow high grade cobalt-nickel-manganese oxide mineralisation at the group’s Roe Hills project resulted in its share price increasing from 1.4 cents when it entered a trading halt on Monday to hit an intraday high of 1.7 cents, representing a gain of more than 20%.

It is also worth noting that this share price surge occurred under the second-highest daily trading volumes registered in the last five years.

It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

The Roe Hills project is located in the highly prospective Eastern Goldfields region of Western Australia. Commenting on the success of the drilling campaign, KAI’s Chairman, Terry Topping said, “This exceptional grade, combined with the near surface nature and extent of the mineralisation and the prime location of the Roe Hills project in the Eastern Goldfields makes this an exciting emerging opportunity for the company”.

Roe hills project map

A significant zone of near surface mineralisation was intersected over a continuous strike of at least 700 metres in length and up to 150 metres in width at the ROE-1 prospect. While the 59-hole drilling program was cobalt focused, as is often the case, robust levels of nickel and copper mineralisation were identified.

The following assay results indicate that the cobalt and manganese grades were high compared to most other nickel cobalt oxide deposits in Western Australia and globally. This has prompted KAI to undertake a 2000 metre follow-up air-core drilling program later this year with a view to testing extensions and identifying other high priority targets.

Roe hills deposit results

KAI is also awaiting assay results from a gold focused drilling program which comprised 34 air-core/reverse circulation holes over a 2.8 kilometre distance. This has tested a number of high priority gold targets including Terra, Lady of the Lake and Ginger Kiss.

Consequently, further exploration results could maintain share price momentum.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X