Trafford shares surge on iron ore find
Investors jumped aboard Trafford Resources after the minerals explorer confirmed it had a 44 million tonne deposit of premium iron ore in South Australia.
Trafford shares surged 68 per cent, or 25.5 cents, to 63 cents on Friday after it reported the findings of an independent study into the Wilcherry Hill deposit in the Gawler Craton.
The study identified an exploration target that could contain 300 million to 600 million tonnes of iron-rich, magnetite-bearing material.
The company has commissioned a desk-top study that could form the basis for the development of a mining and processing operation.
The report is due by mid-March.
