https://www.miningweekly.com

Ram shares soar on exploration buy

14th September 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The share price of ASX-listed junior Ram Resources closed 50% higher on Monday after the company announced the possible acquisition of an 80% stake in the West Kimberley nickel-copper project, in Western Australia.

Ram on Monday said the company paid A$40 000 for a six-month option to acquire the majority stake in the West Kimberley project, with the company able to extend the option by an additional 12 months through the payment of a further A$60 000.

The project is located some 95 km north-east of Derby and covers the north-west extension of the Ruin dolerite, which also hosts the Double Magic nickel sulphide discovery owned by Buxton Resources.

The West Kimberley project had been subject to limited exploration, but Ram MD Bill Guy said the project provided the company with a large ground holding of over 260 km2.

“Ram has been reviewing the Kimberley region for over 12 months in order to prioritise exploration ground considered prospective for nickel sulphides. The Ruin dolerite is similar in age and composition to the intrusion on the east side of Halls Creek Orogen, which hosts the Savannah nickel-copper mine,” Guy said, adding that the company also saw analogies between the Fraser Range and West Kimberley.

Ram shares were trading at a high of 0.3c on Monday, up from a closing price of 0.25c a share on Friday.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Latest News

Showroom

Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.058 0.094s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: