Half a dozen thick 5% copper intersections are interesting, 10-20% lead is intriguing, silver of 1240 gm/t verges on exciting, but 11%, 20% and then 30% copper is in a different league again. The market certainly thought so over the last week as half forgotten KGL Resources took off from 14c to 24c in just a week. A follow up with an 11% cu hit on Monday and strong silver with it sent KGL vertical again for a near three-fold gain.
Target $0.22 (was $0.21). The company has had debt finance for the Andash gold-copper project approved, the broker noting the project should produce 70koz of gold and 16mlbs of copper annually with scope for mine life to be extended.