Stocks of the Hour: State Gas, Kingsgate, Gladiator Resources


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State Gas (ASX:GAS) has been awarded $5.5 million of exploration grant funding through the Queensland Government’s Frontier Gas Exploration Program. The Grant will be used to further delineate gas resources and reserves within the Company’s Rolleston West coal seam gas project, through drilling of two new vertical wells. Shares are trading 29.17 per cent higher at 15.5 cents.

Kingsgate (ASX:KCN) has announced that Plant #1 at the Chatree Gold Mine has now been permitted to operate. Following a successful inspection by the Department of Primary Industries and Mines, the operating permit for Plant #1 was granted. Shares are trading 9.81 per cent higher at $1.74.

Gladiator Resources (ASX:GLA) has announced preparations for their diamond drilling program at our 100% owned Mkuju Uranium Project. The Tanzanian Mining Commission has approved BR Drilling Limited, the Company’s preferred contractor for the drilling at the 100% Owned Mkuju Uranium Project. Shares are trading 5 per cent higher at 2.1 cents.