The west Africa-focused gold explorer, Hummingbird Resources, rose in early trading after revealing positive results in southern Liberia.
After taking 13,000 samples, the group has announced a new gold discovery at its Sackor site, close to the already established Dugbe deposit.
Hummingbird is also trenching at its Tiehnpo site, which is where the highest levels of gold have been found amongst all of the company's targets.
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
The Chief Executive, Dan Betts, said: "During Q2 Hummingbird Resources has collected in excess of 13,000 samples for analysis across various targets and projects within our portfolio, which is a staggering achievement.
"Of particular note are the large soil anomalies emerging at Tiehnpo and Nemo Creek, which provide the company with an exciting pipeline of potential future drill targets, whilst the drilling in the Dugbe 1 Project area continues to produce encouraging results."
At 08:42 the stock had gained 4%.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
