Australia's Castile Resources rises on high recoveries at project
04/03/2022 02:46
** Shares of mineral explorer Castile Resources CST.AX
rise as much as 5.7% to A$0.185, set for best week since Feb. 11
if gains hold
** Co says https://www.asx.com.au/asxpdf/20220304/pdf/456pq6dvryf07s.pdf
"extremely high" gold, copper and cobalt individual metal
recovery rates have been achieved from downstream processing of
bulk concentrate at its Rover project in Northern Territory
** A major benefit of the downstream processing route is the
increased recovery of pure cobalt metal - CST
** Co says a huge bonus for the project is the anticipated
fourth revenue stream from the magnetite extracted from the
plant tail product
** More than 950,000 shares change hands, vs the 30-day
average of nearly 190,000 shares
** As of last close, CST stock down ~14.6% this year
(Reporting by Upasana Singh in Bengaluru)
((Upasana.Singh@thomsonreuters.com))