BBX Minerals is finally back trading on the ASX after almost five months suspended, driving shares up 70 per cent just after market open.
But the company (ASX:BBX) has been forced to retract the statement that kicked off its suspension in the first place.
“As a consequence of the retraction, the company advises that investors should not be influenced by the 14 August announcement,” BBX told investors.
Shares traded at 20c prior to the suspension and spiked to 34c this morning.
BBX went into a trading halt in August after it was asked by the ASX to clarify an announcement it made regarding “spectacular gold extraction” results from its Ema project in Brazil.
The announcement claimed initial test work yielded extremely high grades of 299.3 grams per tonne (g/t) of gold and 1971.6 g/t silver.
The ASX questioned BBX over the methods used to come up with those results.
BBX has been working on a viable extraction technique to recover precious metals from bulk samples at a commercial scale.
The company has now released a replacement announcement of results from follow-up testing on bulk samples that show grades of 68.2 grams per tonne (g/t) of gold and 2099.4 g/t of silver, including 122 g/t of gold from a single bulk sample.
The results were delivered using the same process that was used to produce the August 14 results.
share
Link copied to clipboard
SUBSCRIBE
Get the latest Stockhead news delivered free to your inbox.
It's free. Unsubscribe whenever you want.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
Get the latest Stockhead news delivered free to your inbox
For investors, getting access to the right information is critical.
Stockhead’s daily newsletters make things simple: Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
It’s free. Unsubscribe anytime.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
I want the news:
Hear it first
Get the latest Stockhead news delivered free to your inbox.
Thanks! You’re subscribed, Stockhead news is coming your way soon.