Triple Plate shares jump on positive update

AIM-listed exploration company Triple Plate Junction saw its shares jump 15 per cent on Tuesday morning after the company revealed it is considering several options for potential new projects.

One of these is the exploration of parts of the Papua New Guinean and another involves gold exploration opportunities in other parts of the world where members of the board and advisory board have considerable expertise, and where the company may be able to add value.

The group also revealed that it has accepted an offer of $0.75m cash to purchase its 12.14% contributing interest in the Wamum project in Papua New Guinea. One of the conditions is that Barrick (one of its joint venture partners) completes its negotiations for a joint venture involving its 87.86% interest.

Triple Plate also said that at Pu Sam Cap in Vietnam it has undertake preliminary field investigations based on a re-evaluation of the past work, which indicated an untested new drill target that has the potential to contain higher alkalic porphyry copper grades.

The share price climbed 15% to 0.57p by 08:40 Tuesday.

NR