NunaMinerals Put its Hand on a Greenland Gold Discovery

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(Bloomberg) – NunaMinerals A/S, an explorer of precious metals and diamonds in Greenland, ascended the most since since shares in Copenhagen more than the past five years after saying it made the biggest gold discovery in its history.

NunaMinerals leapt nearly fourfold, the biggest intraday gain since its primary public offering in June 2008. The stock was up 91% at 14.30 kroner as of 11 a.m. in the Danish capital, with selling at almost 35 times the average daily volume throughout the last three months.

NunaMinerals, which is founded in the Arctic island’s capital town, Nuuk, is developing around a dozen excavation prospects on the isle, encompassing deposits encompassing gold, precious gems, rare soil minerals and copper. The company on Wednesday said that an exterior exploration at its Vagar prospect in South Greenland recognized “several” new gold targets while “considerably expanding” the dimensions of existing goals.

Chief boss agent Ole Christiansen said in a declaration “This year’s exploration activities at Vagar have made the best results in our company’s history,” he also added “The identification of the strongest in-sediment gold anomalies found out in Greenland, blended with the exceptionally high grade gold mineralization identified from conduit trying at Amphibolite Ridge demonstrates the tremendous potential of the Vagar gold project.”