proactive inestors uk article: kas up 40%

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Feb 28th 2012

Kasbah Resources' shares jump nearly 40% as
Achmmach gains momentum

Kasbah Resources (ASX: KAS) is clearly being noticed by investors with another share price rally today to an intraday high of $0.265, a nearly 40% increase on Friday's $0.19 closing price. The jump attracted a price and volume query from the ASX.

Kasbah said it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest. However, the company did note that it has accelerated its drilling program at the Achmmach Project in Morocco and news flow is increasing.

Kasbah is closing in on an upgrade to the 7 million tonnes at 0.8% for 54,000 tonnes contained tin Resource.

Infill drilling on Section 2050 continues to confirm and extend the Meknes Inferred Resources up and down dip.

Highlight intersections from recent drilling comprise 9 metres at 0.63% tin from 373 metres, including 3 metres at 1.15% from 377 metres; 8 metres at 0.96% from 268 metres; 14 metres at 0.42% from 310 metres; and 5 metres at 1.03% from 332 metres.

Five drill rigs are in operation at Achmmach across a 1 kilometre strike length.Kasbah is targeting an upgrade to the Resource by the March quarter of 2012.

The interesting thing to note is that Kasbah has been on upwards share trajectory since mid to late December last year when shares were trading at around A$0.14.

This is largely due to the ongoing success of Achmmach, which contains one of the largest undeveloped tin deposits in the world and has the potential to transform Kasbah into a significantly larger and higher valued "tin play" than currently is the case.