Sula continues to surge ahead of results from Sierra Leone project

13th Jan 2014 16:10

West Africa-focused mining group Sula Iron & Gold continued its recent strong run on Monday, with the share price soaring ahead of a conference call with management later this week.The company said in a statement that it will update investors on Wednesday about the completion of initial field work at its flagship project Ferensola in Sierra Leone in early January. It will also use the opportunity to introduce new non-executive directors that it brought on board over recent months.The share price was up 35% at 4.05p before the close of trade, having now risen by 193% over the past month. The stock, however, is still 22% lower than January 2013.Sula had announced on January 8th that initial field work targeting gold mineralisation had been completed at Ferensola and said that was expecting results by the end of the first quarter.Investors are likely hoping that the results, which Sula intends to use to identify future drill targets, will be announced during Wednesday's conference call."I am confident that we are set to significantly enhance Ferensola's gold resource potential this coming year," Chief Executive Nick Warrell said in a statement last week.BC