News: Kibaran Resources shares onward and upward on graphite progress

Kibaran Resources (ASX:KNL) shares have broken out - again.

The stock hit an intra-day high of $0.425, and last traded at $0.41.

Kibaran has doubled in value in just the last week, and compares to its market price of $0.125 in early June, and $0.05 in October last year.

On the 14th July, Kibaran revealed its best intersections to date from the Mahenge Graphite Project in Tanzania.

Reverse circulation drilling delivered 22 metres at 13.4% TGC, including 7 metres at 20.1% TGC; and 39 metres at 11.3% TGC, including 12 metres at 14.5% TGC and 6 metres at 15.5% TGC.

These results could be just the tip of the iceberg considering that the graphite mineralisation is from surface, and remains open at depth and in all directions.

A near-term key catalyst is a resource estimation upgrade which is well underway, with current development studies to be fast tracked to development decision.