Shares in Peel Exploration Ltd shot up 34.62 per cent in late trading on news it has hit high grade tungsten-molybdenum mineralisation at its newly acquired Attunga scheelite deposit in New South Wales.
Both metals are used in steel alloys.
Peel shares were nine cents higher at 35 cents at 1556 AEST Wednesday.
The junior explorer is chaired by Michael Kiernan, who heads up Territory Resources Ltd and is also involved inMonarch Gold Mining Company Ltd, Matilda Minerals Ltd, Mineral Resources Ltd, India Resources Ltd and Precious Metals Australia Ltd.
mk making money elsewhere
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