Arian Silver Corporation was a strong riser after it signed a contract for exclusive use of a newly refurbished processing plant in Mexico.
The firm said the plant near the City of Zacatecas would enable it to achieve significantly improved recoveries of silver from this new toll milling operation.
It also offered the potential for additional recoveries from lead and zinc, the company added.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The news had pushed shares up 9% by 14:00 on Tuesday.
The plant has a rated capacity of 500 tonnes per day (tpd) and is expected to become operational during December.
Arian's Chief Executive, Jim Williams, said the plant would also provide a stepping stone towards the construction of a company-owned processing plant on site at San Jose.
"While working to finalise the toll milling agreement, our mining and geological teams have continued to develop the mine and update the mining plan thus ensuring we are well placed to resume full scale contract mining to feed the new mill," he said.
MM
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
