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Mineral & Financial Investments Ltd - Cayman Islands-based investment company - Says metal recoveries continue to improve in the phase 2 metallurgical test programme of investee company Redcorp. Notes that the tests were funded by Ascendant Resources Inc, which holds a 25% stake in Redcorp. Expects full pilot metallurgical test in the first quarter of 2022.
Jacques Vaillancourt, chief executive of Mineral & Financial, says: "We are very pleased that the test work completed by Grinding Solutions Ltd for Redcorp and Ascendant Resources Inc continued to show improved results as compared to previous results despite having less than ideal material. We are also pleased that Grinding Solutions are confident in achieving at least benchmark recoveries for the [Iberian Pyrite Belt] at Lagoa Salgada."
Current stock price: 11.00 pence, down 4.4% on Tuesday afternoon
Year-to-date change: up 11%
By Scarlett Butler; scarlettbutler@alliancenews.com
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