Krakatoa Resources (ASX:KTA) is seeing heights on the Australian Securities Exchange (ASX) after releasing an updated presentation to the market.
The company’s share price has jumped 16.66% in trading today (1 October), with shares now being issued at $0.007 each.
The company has 2.01 billion shares on issue through the ASX and a market capitalisation of $12.07 million.
In its most recent company presentation, Krakatoa outlines the prospectivity of its Zopkhito Antimony-Gold Project in Georgia.
Krakatoa’s timeline for the project over the next six to 12 months covers a JORC-compliant maiden resource estimate, mining development studies, the establishment of a development pathway, the progression of permitting activities, and an increase in its ownership interest in the project.
The company maintains 10% ownership in Zopkhito, which it acquired in August. Krakatoa will be able to earn up to an 80% interest in the project.
Meanwhile, the S&P/ASX 200 is significantly lower today, dropping 169.8 points or 1.93%.
All sectors are performing lower, with the materials sector dropping 1.85%. Major declines on the index include Liontown Resources (ASX:LTR) and Lynas Rare Earths (ASX:LYC).
Write to Maddison Elliott at Mining.com.au
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