Assay results have investors cheering on Monday.
The post Here’s why the Kuniko (ASX:KNI) share price is climbing today appeared first on The Motley Fool Australia. –
The Kuniko Ltd (ASX: KNI) share price is pulling ahead on Monday. While some of its exuberance has been lost since early morning trade, shares in the mineral exploration company are up 1.96% to $2.08. However, shortly after the opening bell, the Kuniko share price jumped to $2.34, an increase of 14.7%.
Above-average trading volume has flowed through Kuniko this morning following the release of assay results from its newly acquired Nord-Helgeland Project and other battery metals projects.
Investors are bidding up shares in the relatively new ASX-listed minerals explorer this morning. Excitement has trickled through the markets as shareholders absorb the latest assay results from one of the company’s exploration sites.
According to the release, Kuniko has received high-grade results for its Nord-Helgeland Project in Northern Norway. The assays have been carried out on historic mine dumps and workings across the Feøy, Romsås and Skuterud Projects. These results confirm the potential of the aforementioned projects.
Furthermore, grades of up to 14.35% copper and 1.74% nickel have been obtained from waste pit samples at Karmøy and Feøy. Positively, the mining company believes there might be scope for further exploration around the pegmatite field of its Nord-Helgeland Project. As a result, investors are pushing the Kuniko share price upwards today.
The findings are another step towards refining Kuniko’s drilling targets for 2022.
CEO Antony Beckmand commented on the assay results:
These assay results are strongly encouraging, reinforcing our knowledge of the available datasets, and telegraphing the valuable potential of our portfolio of battery metals projects in Norway. Further, there is clear potential for further exploration of the pegmatites in our newly acquired Nord-Helgeland Project which may provide an opportunity to expand our interests into valuable technology metals.
Additionally, the zero carbon-focused battery metals company is likely gathering attention today on the back of the Australian government’s 2050 net-zero deal. While the details of the deal aren’t yet public, the move could create a tailwind for sustainably-geared investments.
Kuniko share price snapshot
Since commencing trading on the ASX, the Kuniko share price has enjoyed an enviable run. In a little more than 2 months, the mineral explorer’s shares have soared 145%. For comparison, the S&P/ASX 200 Index (ASX: XJO) has slipped 0.7% during that time.
The post Here’s why the Kuniko (ASX:KNI) share price is climbing today appeared first on The Motley Fool Australia.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.