Caeneus refocuses on Pardoo
PERTH (miningweekly.com) – The share price of junior explorer Caeneus Minerals doubled on Thursday, after the company surrendered two of its four exploration licences making up the Pardoo nickel and base metals project, in Western Australia.
Caeneus told shareholders that the company had conducted a review on the previous exploration activities carried at Pardoo, which indicated that very limited exploration potential and insufficient impetus to carry out further field activities on the two licences surrendered.
The company will now focus its exploration efforts on the two remaining licences, subject to the availability of funds.
The junior is preparing a field reconnaissance, outcrop and soil sampling programme for March or April.
Ceaneus shares were trading at a high of 0.2c a share on Thursday, up from a low of 0.1c a share.
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