Shares in Greenvale Mining Ltd (ASX: GRV) were gaining today, despite no news from the company. At market close, the Greenvale share price was trading 33.5 cents – 9.8% higher than its previous closing price.
Today’s gains have also seen the Greenvale share price hit a new 52-week high of 34 cents. It broke its previous record earlier this afternoon.
Greenvale shares have also experienced impressive growth in 2021, currently a whopping 157% higher than they were at the beginning of the year.
Let’s take a look at what the oil shale miner has been up to lately.
The month that’s been
The ASX has received a multitude of news from Greenvale this year, but only 2 pieces of price sensitive news in the last 30 days.
The first was released on 7 June, when the miner announced it was ready to begin a “multi-pronged, high-impact” exploration program at its Georgina Basin IOCG Project in the Northern Territory.
Greenvale also announced its wholly-owned subsidiary, Knox Resources Pty Ltd, had successfully received funding from the NT Government in the form of 2 grants from the Resourcing the Territory initiative.
The grants saw the state government contribute just over $26,000 – 50% of the total cost – towards the on-ground gravity program at the Georgina Basin Project. The program’s results are due to be released in mid-July.
The next time market heard from Greendale was on Monday when the company announced the successful completion of its core drill program at the Alpha Torbanite Project in central Queensland. The drill program has paved the way for its definitive feasibility study (DFS).
Greenvale expects to deliver the Alpha Torbanite Project’s DFS later this year.
Greenvale share price snapshot
It goes without saying that 2021 has been good year so far for the Greenvale share price. And so have the last 12 months, which have seen Greenvale shares gain more than 1000%.
The company has a market capitalisation of around $120 million, with approximately 393 million shares outstanding.
The post The Greenvale (ASX:GRV) share price hit a new 52-week high today appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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