Shares rise on ?encouraging? mine samples
Created: Feb 03, 2006 10:00 AM
(Bloomberg) ? Shares of Zambezi Resources Ltd., which explores for copper and gold in Zambia, posted their biggest gain in six weeks after the company said results of samples at its Moiya and Kangaluwi sites were ?highly encouraging.?
?Further trench, soil and diamond drill core assay results are awaited,? the Bermuda-based company said in a Regulatory News Service statement today.
The shares gained a penny, or 8.7 percent, to 12.5 pence as of 8:34 a.m. in London, giving the company a market value of ?11.8 million ($20.9 million). The stock has lost 36 percent in the past year.