- BBX Minerals’ (BBX) share price responds favourably to the company’s decision to appoint an “internationally recognised” laboratory to conduct its assays
- The ASX-lister previously said it would partner with the University of Catalão in Brazil to assay drill samples
- In making the switch, BBX says it minimises the risk of incurring delays that could stem from procuring equipment required for the university laboratory
- The ASX-lister said the unnamed laboratory has all the necessary equipment to commence the assaying process immediately
- BBX Minerals shares are up 7.14 per cent to trade at 22.5 cents
BBX Minerals’ (BBX) share price has responded favourably to the company’s decision to appoint an “internationally recognised” laboratory to conduct its assays.
The announcement comes roughly six weeks after the precious metals explorer partnered with the Federal University of Catalão in central-west Brazil to analyse drill hole samples dating back from 2017.
While noting that it would still continue to work with the university, BBX said it was in the company’s best interests to conduct part or all of its assaying at a well-established international laboratory.
“Working closely with a well-known and reputable laboratory will further validate the BBX protocol,” the ASX announcement read.
BBX affirmed partnering with the more recognised laboratory would prevent further delays arising from procuring and installing new equipment required for the university site — which was tipped to take four to six weeks.
The ASX-lister said the laboratory has all the necessary equipment to commence the assaying process immediately after testing the BBX protocol.
BBX Minerals Chief Executive Officer Andre J. Douchane said the team was excited to start working with a recognised laboratory.
BBX Minerals shares were up 7.14 per cent at 12:07 pm AEST to trade at 22.5 cents.