Exploration company Ormonde Mining says tests at its La Zarza gold and copper project in Spain show that it can achieve its targets for recovering gold.
'This is an early but very significant step towards proving the viability of the La Zarza project,' said managing director Kerr Anderson.
The tests show that up to 60% of the gold can be recovered by standard flotation procedures.
'With gold breaking $500 per ounce, and now preliminary evidence that both gold and copper recoveries are up to best expectations at La Zarza, Ormonde looks significantly undervalued,' said Davy analyst Job Langbroek.
