Solomon Gold looking to push Queensland resources
Solomon Gold, the gold explorer focused on Australia and the Solomon Islands, says it has seen encouraging results at its Rannes project in Queensland.
Solomon Gold, the gold explorer focused on Australia and the Solomon Islands, says it has seen encouraging results at its Rannes project in Queensland.
In November the company released resource estimates of 812,000 ounces of gold equivalent at the site. It now says within Rannes, two prospects which were not included in the resource estimate, Double Scoop and Porcupine, have "delivered very good results".
The company says it is aiming for a total resource of two million ounces of gold equivalent.
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
Solomon shares initially jumped 2% on the news but by 8.47am had fallen back 1.5%.
Over the last twelve months the stock has declined 68%.
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.
By Marc Shoffman Published
-
How to invest in copper
It 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
By Dominic Frisby Published