Adriatic Metals Company reached Record Value after Discovery of Gold in Vares

The value of Adriatic Metals company, which carries out excavations of metal foundations in Vares, reached a record high on Wednesday, Biznis Info writes based on the information from Australian Stock Exchange. Stocks on Wednesday were at the highest level since this company was listed on the stock market in Australia and were worth 0.79 Australian dollars. Given that the company has 150.48 million shares, its market capitalization (value) has reached a record level of nearly 119 million Australian dollars (about 74 million euros).

Adriatic Metals company made a conclusion that the area of Vares is extremely rich in gold and silver, and the exploitation could significantly improve the economic situation in BiH.

Namely, works on the excavation of precious metals in the Vares area were approved earlier in 2018, and soon there will be an expansion of existing concessions in the wider region of Central Bosnia.

The location of Rupice, where gold and silver is found, has definitely a “bright future” and the Adriatic Metals company has strong support in terms of its long-term ambitions in relation to exploration and mining developments in BiH.

In the previously mentioned location, until this moment,  9.5 percent of zinc, 4.9 lead, 2.4 g / t gold, 187 g / t of silver, 0.5 percent copper and 56 percent barit at 200 meters below the ground were found.

Apart from the area of Rupice, it is considered that metals could also be found in Brestic, Jurasevac, Borovac and Veovaca.


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