(MENAFN - ProactiveInvestors - Australia) Equamineral Holdings (ASX: EQH) has been a market darling with its shares quadrupling to A0.80 since listing on 19 July this year.
The company is focused on its wholly-owned Oyabi Iron Project, which is located in the Cuvette West Province in Congo-Brazzaville and covers an area of over 6,100 square kilometres.
It is currently interpreting data from field sampling that confirmed iron mineralisation detected by an airborne magnetic gradiometer and radiometric geophysical survey that was flown in January 2012 over 60% of the Oyabi permit.
Equamineral was admitted to the ASX following a successful IPO which offered 12.5 million CHESS Depositary Interests (CDI's) to raise up to 2.5 million.
Oyabi was discovered in 2010 following a successful reconnaissance mission by ESA Congo.
This was granted in 20 July 2011 for an initial period of three years, and covers a 956 square kilometre area within the original Kelle Prospecting Licence that has now expired.