WA discoveries lift shares
Michael Vaughan
Shares in Enterprise Metals have more than doubled since the start of June thanks to the Doolgunna copper and gold discovery made by Sandfire Resources north of Meekatharra in Western Australia. Enterprise's Revere project is adjacent to Doolgunna and the company says Sandfire's discovery has justified its theory that significant deposits could lie in the region. A geophysical survey has been completed at Revere and plans have been put in place for a drilling program of up to 88 holes once regulatory approvals are granted. The Perth-based company has several other early-stage projects throughout WA targeting gold, uranium, iron ore and copper. At the end of July Enterprise had $3.2 million in cash after completing a $2.15 million entitlement issue. Close $0.39
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