Business
The KGL (ASX:KGL) share price has surged 11% today. Here’s why.
The KGL Resources Ltd (ASX: KGL) share price has rocketed up today, on news the copper producer has received government approval for its 100% owned Jervois Copper Project.
At the time of writing, the KGL share price is trading up 11.32% at 29.5 cents.
What’s moving the KGL share price today
The company advised the project has gained Northern Territory Government approval after recent pre-feasibility studies (PFS) showed that the Jervois deposit would have a mine life of 7.5 years.
With the PFS completed and government approval obtained, KGL says it will now go ahead with executing its plans for the mine. The next phase will include project funding and marketing of the mine’s concentrate.
KGL Chair Denis Wood said that the…
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