Why St George Mining Share Price Ripped Higher on Friday

What happened to the St George Mining share price?

At the time of writing, shares of St George Mining [ASX:SGQ] are up by 29.73% to 24 cents in today’s trading.

Why did St George Mining shares do this?

St George discovered massive, high-grade nickel-copper sulphides at its Mt Alexander project yesterday. The stock market euphoria is not surprising. The nickel sulphide grades ranged from 6.7% to 10.9%, averaging 8.9%.

These are very high grades.

Moreover, the copper sulphides were the icing on the cake. The grades ranged from 1.24% to 5.85% copper, with an average of 3.2%. This is a quality discovery, with world-class potential.

What now for St George Mining?

This is a company-making asset. If St George can keep these grades up, it could become a multi-hundred million dollar company in the years ahead.

On a personal note, I was quite pleased with this discovery. I recommended St George Mining to subscribers of Resource Speculator at 11 cents per share. My readers, I imagine, are quite pleased as well.

Jason Stevenson,
Resources Analyst, Money Morning

 


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