Afternoon trading February 16, page-37

BELARAROX (ASX:BRX)

(Up on no news)

This fresh-faced copper-zinc explorer continues to climb in February.

BRX is now up ~140% on its late Jan listing price of 20c per share, making it the #3 most popular IPO of 2022 behind NiCo Resources (ASX:NC1) and Firebrick Pharma (ASX:FRE).

Its focus is the ‘Belara’ project in NSW, which includes two historical copper-zinc mines: Belara and Native Bee.

~5,600m of drilling will kick off towards the end of February ahead of a resource update mid-year.

Non-executive chairman Neil Warburton says this resource will be “sizeable”.

“… it’s not grassroots exploration, we know at Belara that these resources actually outcrop and historically have been mined for copper and zinc, going back around about 90 years ago,” he told Stock head

“It’s been drilled by various parties, so it’s really an advanced exploration project and we expect to extend the current mineralisation.”