China Africa Resources unsure why share price rising
China Africa Resources, a mining company, has said that it is not aware of any reason behind the recent rise in its share price.
China Africa Resources, a mining company, has said that it is not aware of any reason behind the recent rise in its share price.
The firm said it continues to pursue its strategy to carry out a feasibility study over the Berg Aukas Project.
So far it has appointed most of the consultants that will be working on the feasibility study and received designs for a drilling program from consultant Geologists which will be performed to establish JORC resources. A 'request for tender' for the drilling work was distributed in December, and drilling is expected to begin in February.
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
As at 31 December 2011 the company had a cash balance of £3.8m.
The share price, which has risen 78.79% in the past month, was up 3.51% on Wednesday at 29.5p.
__
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrency
According to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
By Chris Newlands Published
-
Investing for children this Christmas – five ideas
It might not come with a shiny ribbon, but an investment fund could be the gift that keeps on giving. We share five ideas if you are investing for children this Christmas.
By Katie Williams Published