市场见解

Here’s why the Minerals 260 (ASX:MI6) share price is leaping 10% today

The resource explorer listed on the ASX on 12 October. We take a look at its latest news
The post Here’s why the Minerals 260 (ASX:MI6) share price is leaping 10% today appeared first on The Motley Fool Australia. –

The Minerals 260 Ltd (ASX: MI6) share price is surging higher today, up 10.2% in afternoon trading to 54 cents.

Below we take a look at the ASX resource explorer’s project update that looks to be spurring investor interest.

What project update was announced?

The Minerals 260 share price is soaring after the company reported it is speeding up exploration work at its Moora and Koojan JV projects.

Both projects are located in Western Australia’s Julimar Mineral Province. Minerals 260 is the 100% owner of Moora and in a joint venture (JV) with Lachlan Star Limited (ASX: LSA) at Koojan. The Lachlan share price is up 11% today.

Minerals 260 has so far drilled 6 diamond core holes at its Angepena gold prospect in Moora. Drilling commenced on 4 November to follow up on promising gold intersections struck earlier this year.

Assays are still pending for all 6 holes drilled with initial results expected in January. The company plans to drill 7 more diamond core holes at Angepena totalling some 2,000 metres. That should also be completed in January.

Minerals 260 has also recently commenced a reverse circulation (RC) drilling program at the project. It plans to drill up to 35 holes for approximately 5,000 metres.

Commenting on the announcement likely pushing up the Minerals 260 share price today, managing director David Richards said:

Diamond drilling has confirmed the presence of mafic/ultramafic hosted sulphide-related mineralisation and highlighted the exciting potential, not only of the Mt Yule magnetic anomaly but also the rest of the projects – where numerous targets remain to be tested.

While it is early days, we are very encouraged by what we are seeing in the Angepena drill core. However, we caution investors that until assays are received, we cannot draw any conclusions. Our objective is to build on the exploration data collected so far and systematically work towards the opportunity for a significant discovery.

The company has $6.7 million in the budget for its first 12 months of exploration following its 12 October listing on the ASX.

Minerals 260 share price snapshot

Minerals 260’s initial public offering (IPO) raised $30 million at a listing price of 50 cents per share.

The Minerals 260 share price leapt higher that day to close at 60 cents and reached an all-time closing high of 77 cents per share on 15 November. Since then shares have retraced.

Since the closing bell on its first day of trading, Minerals 260’s shares are down 10%.

The post Here’s why the Minerals 260 (ASX:MI6) share price is leaping 10% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Minerals 260 right now?

Before you consider Minerals 260, 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 Minerals 260 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

Why is the Minerals 260 (ASX:MI6) share price rocketing 21% today?

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.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

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!