Advertisement

Sable Mining Africa delivers upbeat results from Nimba

Exploration company Sable Mining Africa has announced positive initial results from metallurgical testwork at its Nimba iron ore project in south-east Guinea.

Exploration company Sable Mining Africa has announced positive initial results from metallurgical testwork at its Nimba iron ore project in south-east Guinea.

The firm said the results revealed the potential for Nimba to host significant direct shipping ore material, supporting its belief that Nimba is "one of the most commercially attractive undeveloped iron ore assets in West Africa".

Advertisement - Article continues below

In a statement Chief Executive Officer Andrew Groves said: "The latest results from Nimba further strengthen our confidence that our Nimba project is world class, with the potential to become a high tonnage, high grade and low cost production asset in the near term. These initial results have highlighted that the material tested exceeds the grade characteristics for [two] categories, and is well suited to be able to process at higher volumes and at lower costs.

"Together with the identification of minimal deleterious elements, the results further demonstrate the commercial viability and value of our potential end-products. I look forward to the receipt of further analysis over the coming weeks as we look to delineate our maiden Joint Ore Reserves Committee (JORC) compliant resource in Q1 2013."

The share price rose 5.48% to 7.70p by 13:30.

NR

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/stockmarkets/601611/nasdaq-all-time-high-markets-and-the-real-economy
Stockmarkets

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020