Shares in
DuSolo Fertilizers Inc. (
TSX: V.DSF,
Stock Forum) jumped 16.7% to 31.5 cents Wednesday, September 03, 2014, as traders assessed drilling results from the company’s Bomfim project in Brazil.
At current levels, Du Solo has a market cap of $32.9 million, based on 104.5 million shares outstanding. The 52-week range is 30 cents and 12.5 cents.
The results are the first to be released from an infill drilling campaign that probed a high grade phosphate zone, known as the Santiago target.
With a processing facility now in place, Du Solo is planning to process a small portion of the phosphate recovered from the Santiago target, supplying phosphate-based fertilizers within the Cerrado region of Brazil as part of a nationwide effort to increase supply of domestically sourced fertilizers.
The company said in a press release the results demonstrate continuous mineralization of significant interval length and excellent grade at or close to surface.
To date, the company has received results from 20 of the 41 holes completed in the Infill Drilling Campaign.
FULL DISCLOSURE: DuSolo Fertilizers is a client of Stockhouse Publishing.