Breaker hits roll in ahead of gold estimate
28 March 2018
INVESTORS remain keen to see the long awaited maiden resource estimate from Breaker Resources as the gold explorer continues to report strong drill results from the Bombora project east of Kalgoorlie.
The headline hit from recent drilling was 9m grading 25.5 grams per tonne from 184m, with Breaker saying the latest results will be incorporated into the maiden resources.
That estimate is now set down for mid-April, having originally been flagged for the end of 2017 and then later, the current quarter.
Breaker said resource drilling would continue “well after the release of this (maiden) estimate to continue expanding it”.
Interest will be strong because Breaker has strongly promoted the discovery over the past 12-18 months, describing it as “a rare discovery of quality and scale in a low risk mining jurisdiction”.
The latest drilling has hit “exceptional high grade lodes (that) confirm (the) underground mining potential at Bombora”, Breaker said.
Breaker started 2018 with about $12 million cash and was budgeting to spend just over $3 million in the current quarter.
The company last raised funds in August-September last year when new shares being issued were priced at 70c.
Shares in Breaker were up 3% to 55.5c in afternoon trade, capitalising the company at $80.5 million.