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Krakatoa Resources Ltd. ( (AU:KTA) ) has shared an update.
Krakatoa Resources has reported that a two-hole diamond drilling program at the Stone Tank prospect within its Mt Clere Project intersected typical Gascoyne metamorphic lithologies but returned no significant assay results, leading the company to halt further work at this target. Following a broader tenement rationalisation to concentrate on more prospective ground for REE, base and precious metals, Krakatoa has significantly reduced its northern Mt Clere landholding and is sharpening its focus on expanding the Tower clay-hosted REE deposit, with applications lodged for two additional exploration licences that would extend the known footprint of the Tower resource by more than 9km to the east once granted.
The most recent analyst rating on (AU:KTA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Krakatoa Resources Ltd. stock, see the AU:KTA Stock Forecast page.
More about Krakatoa Resources Ltd.
Krakatoa Resources Limited is an Australian exploration company focused on mineral projects in Western Australia, with a particular emphasis on rare earth elements (REE), base metals and precious metals. Its flagship Mt Clere Project, located on the north-western margin of the Yilgarn Craton, includes the Tower clay-hosted REE deposit, which currently has a JORC-compliant resource of 101 million tonnes at 801ppm total rare earth oxides (TREO).
Average Trading Volume: 4,073,835
Technical Sentiment Signal: Sell
Current Market Cap: A$10.73M
See more data about KTA stock on TipRanks’ Stock Analysis page.