Terra Metals’ (ASX:TM1) share price has increased by 5.26% today (17 September), with shares now offered at $0.20 each on the Australian Securities Exchange (ASX).
The explorer was previously trading at $0.19 per share at close yesterday afternoon.
With 131,397 shares currently trading, Terra holds a market capitalisation of $195.86 million.
Since listing on the stock exchange in December 2012, Terra has been solely focused on advancing the Dante Project in Western Australia, which the company describes as a “polymetallic system with scale”.
Under the leadership of CEO Thomas Line, the company has been receiving assays back from drilling, highlighting the project’s multiple stacked platinum group metal reef layers at the Southwest prospect.
“Southwest is now moving into a different phase of definition,” Line says.
The most recently returned assays include 5m @ 5.45 grams per tonne platinum-palladium-gold (3E), 0.28% nickel (Ni), 0.24% copper (Cu), as well as 79.8m @ 1.3g/t 3E, 0.21% Ni, 0.13% Cu, and 1.29m @ 18.62g/t 3E.
The S&P/ASX 200 is performing higher today, gaining 29.70 points to a total of 8,726,20 points.
The materials sector is still performing lower, dropping 0.75% in today’s trading session.
The lowest performing companies include West African Resources (ASX:WAF), Pantoro Gold (ASX:PNR), and PDI Gold (ASX:PDI).
Write to Maddison Elliott at Mining.com.au
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