Baobab rises on resource upgrade

Baobab Resources, an iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, rose on news that the Massamba group global resource base has expanded with the completion of the Ruoni South resource estimate.

Baobab Resources, an iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, rose on news that the Massamba group global resource base has expanded with the completion of the Ruoni South resource estimate.

The Massamba group, part of the firm's Tete iron / vanadium / titanium project, has now risen to 324Mt after Ruoni South reached 56Mt with a head grade of 34% iron, with an average concentrate grade of 62% iron, 0.9% vanadium oxide, and 8% titanium dioxide at a mass recovery of 34%.

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