Tertiary Minerals soars on US fluorspar update

Shares of Tertiary Minerals went through the roof after data from recent drilling at its newly acquired MB project in Nevada revealed a major fluorspar deposit that 'could have world class potential.'

Tertiary said there is a large market for fluorspar in the US and around the Pacific Rim, but currently no significant US production. Fluorspar is widely used in the chemical, aluminium and steel industries.

Chairman Patrick Cheetham said: "When we announced the MB Project in September we only had access to data from 84 mostly shallow holes drilled in the 1960s on the periphery of the deposit with one or two deeper holes suggesting the potential for a large deposit."

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"We have since unearthed data from an additional 24 deeper drill holes located throughout the mineralisation which now confirm it to be a major fluorspar deposit."

Shares of Tertiary rocketed 44.44% to 6.50p at 15:00.

CJ