Basic Materials

After 52-week lows in December, could Torian Resources rebound in 2022?

Mon 10 Jan 22, 10:42am (AEST)
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Key Points

  • The news saw a slight rally to the company's share price
  • Torian is trading currently trading well below its 200-day moving average
  • Drilling results announced at the company’s Stirling Gold Project

Torian Resources (ASX: TNR) has jumped 4.55% today after announcing drilling results at the company’s Stirling Gold Project in Leonora, Western Australia. 

The results included intercepts of 4m @ 6.67 g/t Au from 52m, and 8m @ 1.21 g/t Au from 70m. Further assay results will be announced in January and February. 

In a 24 December announcement, Executive Director Peretz Schapiro said:

“Today, our Mt Stirling Gold Project is significantly more advanced than where it was 12 months ago. We have increased our resource, identified and proven numerous high priority gold targets and are well on the way to growing our global resource in 2022."

The company will provide continuous updates over the coming weeks, as the drilling program continues to ramp up.

Stirling Gold is one of the company’s six projects in the Goldfields Region of Western Australia.

Torian has over 400 sq.km in the region. According to the company, all projects are close to excellent infrastructure and lie within 50km of major mining towns.

Today’s 4.55% boost to $0.023 was a welcome gain for the company, which was trading at a 52-week low of $0.018 on 13 December. 

torian-52-week-chart

^ Torian Resources’ share price over the last 52 weeks, with trading volume shown below.

The stock remains significantly below the May 2021 height of $0.059, and is trading almost 47% below its 200-day moving average.

 

Written By

Jed Herne

Content & Strategy

After graduating with a 99.4 ATAR, Jed won 3 scholarships to Curtin University, where he earned his Bachelor's degree and served as a Student Ambassador. He is primarily interested in long-term passive index funds as a vehicle for financial independence. Outside of covering financial news, Jed is a published author, podcaster, and has an unhealthy obsession with bouldering.

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