Shares in Azumah Resources Limited
(ASX:AZM) jumped almost 34 per cent yesterday after the exploration company boosted resources at its wholly owned Wa Gold Project in northwest Ghana.
Azumah has increased its Wa Gold Resources by 32 per cent and increased its Julie Mineral Resource by 84 per cent.
Managing Director Stephen Stone says the near doubling of the Julie Mineral Resource has lifted total Mineral Resources at the Wa Gold Project to 2.2 million ounces.
Mr Stone says this result along with increases in grades and classifications is likely to have a positive impact on the company’s upcoming Feasibility Study and Mineral Reserve updates.
Shares in Azumah Resources jumped 33.72 per cent on Tuesday, closing at $0.115.
Azumah Resources reported a net loss of $23.9 million in the 2012 financial year.
