Metal Hawk (ASX:MHK) share price rockets 27% on high grade discovery

Metal Hawk is having a great day on the ASX. Here’s why.
The post Metal Hawk (ASX:MHK) share price rockets 27% on high grade discovery appeared first on The Motley Fool Australia. –

The Metal Hawk Ltd (ASX: MHK) share price is taking off this morning following the company’s confirmation of a high-grade nickel discovery.  

Metal Hawk released assay results from its Berehaven Project’s Commodore Prospect today.

The results show high-grade massive sulphites of up to 5.89% nickel.

At the time of writing, Metal Hawk’s shares are trading for 78.5 cents apiece, 26.61% more than they were at its previous close.

Let’s take a closer look at today’s news from the mineral exploration company.

New assay results

The Metal Hawk share price is rocketing on more news of its discovery at its Berehaven Project’s Commodore Prospect.

The company has received assay results from reverse circulation drilling at the prospect. The lower section of one hole returned results including:

9 metres at 0.31% nickel, 185 parts per billion of copper, 18 parts per billion of platinum and 34 parts per billion of palladium.

Additionally, the prospect’s geochemistry indicates there’s more nickel at depth. This was backed up by downhole electromagnetic surveys that found a conductive target below the drill holes.

The prospect was first intercepted earlier this month. News of the initial finding boosted the Metal Hawk share price by a massive 257%.

The company now plans to continue exploring the prospect. It expects to begin diamond drilling and more reverse circulation drilling in October.

Commentary from management

Metal Hawk’s managing director, Will Belbin, commented on the news driving the company’s share price today, saying:

We believe that the mineralised sulphide zone at Commodore may represent part of a significant untested komatiite system… The Berehaven Project is incredibly underexplored for nickel sulphides and we have several kilometres of prospective stratigraphy along strike from Commodore.

Metal Hawk share price snapshot

This year has been a good one so far for Metal Hawk’s stock.

Today’s gains included, it’s now 201% higher than it was at the start of 2021.

The post Metal Hawk (ASX:MHK) share price rockets 27% on high grade discovery appeared first on The Motley Fool Australia.

Should you invest $1,000 in Metal Hawk right now?

Before you consider Metal Hawk, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Metal Hawk wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Metal Hawk (ASX:MHK) share price jumps following investor update
Metal Hawk (ASX:MHK) share price closes 265% higher on action-packed day
Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery

Motley Fool contributor Brooke Cooper 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!