Alexander Mining PLC said Tuesday that its partner Proses Muhendislik Danismanlik Insaat ve Tasarim AS made “major progress” to establish a zinc plat in Turkey.
Alexander Mining shares were trading up 21% at 0.13 pence each on the back of the news.
Alexander Mining reached a deal with Proses in February, under which Proses has been drawing plans in Turkey for the establishment of a semi industrial scale processing plant using Alexander’s AmmLeach technology for processing lower grade oxide zinc ores.
Alexander’s Chief Executive Officer Martin Rosser said: “We are delighted with the excellent news and swift progress made by our partners Proses and greatly appreciate their hard work and efforts to reach this exciting milestone. We very much look forward to working together on the next stages.”