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Sula Iron & Gold optimistic about future, shares rally

Sula said it is not aware of any reason for its recent share price decline.

The shares rallied nearly 15% following Wednesday’s statement

Sula Iron & Gold (LON:SULA) told investors it remains optimistic about the company’s future, and it is not aware of any reason for its recent share price decline.

The shares fell as much as 52% to as low as 0.19p from 0.38p since the release of a new CEO blog entry on its own website on Monday.

In today’s statement Sula highlighted that the most recent funding, announced October 14, covered an extended drill programme at the Ferensola gold project, and that work was completed on budget and ahead of schedule.

“The board remains optimistic about the company's future and looks forward to providing further updates in early 2016 and is confident of the outlook for its potential world class gold deposit at Ferensola,” Sula said in a statement.

Sula shares rallied nearly 15% following Wednesday’s statement, trading at 0.27p.

Quick facts: Power Metal Resources

Price: 2 GBX

Market: AIM
Market Cap: £16.37 m

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