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Sula chief: Ferensola findings put us on radar of major players

The chief executive of Sula Iron & Gold (LON:SULA), Nick Warrell, reckons latest findings from the company's Ferensola gold mine in Sierra Leone will attract the interest of larger mining groups.

Today the firm told investors that consultant SRK has estimated a tonnage range of between 5 and 7 mln tonnes at a grades between 4 and 8 g/t, the equivalent of 0.8 and 1.5mln ounces of gold.

An area to start drilling has been selected and Sula is determining the best and most commercially viable route to carry this out.

Warrell says this could mean a joint venture partnership or a Sula-led exploration programme.

Quick facts: Power Metal Resources

Price: 2.0975 GBX

Market: AIM
Market Cap: £23.83 m

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on 05/19/2020

2 min read