Kingsland went into the conference with the third-lowest market capitalisation but finished the week by leap-frogging over some of its small-cap presenting peers.
The Mal Randall-chaired company listed on the ASX almost a year ago as a uranium explorer but is now focused on graphite after making a discovery at its Allamber project earlier this year.
In February, Kingsland announced it had discovered graphitic schists up to 100m wide over a strike length of 20km at Leliyn, just 2 hours south of Darwin.
Historical assays returned up to 17.4% total graphitic carbon while previous work has indicated a flake size of 160 microns – suitable for use in battery anode materials.
Since then, Kingsland has reported an exploration target of 200-250 million tonnes at 8-11% TGC, which managing director Richard Maddocks described as “very conservative”.
“It’s potentially a very large deposit with a lot of extent,” he told RRS.
The first reverse circulation drilling at Leliyn kicked off last week with a diamond rig on its way in the next few weeks.
“This is a ground-level opportunity to come into a graphite show which is yet to prove up a resource and do metallurgical test work – it’s a good opportunity to take the ride with us,” Maddocks said.
Clearly, investors responded well to the pitch with the stock jumping last week.
Maddocks presented after market close on Tuesday and the stock went from A19c to a record high of 31c in the days that followed.
The movements prompted a price query from the ASX on Friday, with Kingsland pointing to drilling being underway and the conference appearance.
“This was the first conference attended by Kingsland since listing and the company received strong interest from investors at this conference,” the company said.
Kingsland had $2.5 million in cash at the end of March.
