In the last trading session, the stock price of Kerr Mines Inc. (OTCMKTS:KERMF) jumped more than 7% to close the day at $0.244. The gains came at a share volume of 346,588 compared to average share volume of 93,363. More recently, the company reported that it has started the planned underground exploration and development drilling course for the 2017 Copperstone Mine pre-feasibility evaluation and exploration program.
Earlier in August, Kerr Mines reported that it has closed the tender process has assigned the three major contracts to advance the implementation of the 2017 Copperstone Mine exploration plan and pre-feasibility assessment. Hard Rock Consulting of Colorado, was appointed to perform the pre-feasibility study, which is projected to be completed by the first quarter of next year. This study will mark as the basis for the decision to advance towards production process of the Copperstone Mine.
Additionally, the company awarded the drilling contract to Godbe Drilling LLC of Arizona, which includes both the underground and surface drilling programs. Kerr Mines had also awarded the deal for underground development to DMC Mining Services Corporation. The addition of the underground development enables the 2017 Copperstone Mine exploration plan to access high-priority targets earlier unavailable.
HRC is known for delivering expertise and offering value added service straight from the highly skilled principals to numerous mining customers ranging from due diligence to full feasibility assessments. This enables HRC to follow a hands-on approach in offering a prudent and cost-effective move forward strategy.
Both DMC and Godbe have extensive experience in respective core businesses and demonstrate a proven ability to deliver excellent results and achieve safe performance under a variety of conditions. Kerr Mines reported that these appointments establish a major in its development plan by employing strong expertise in drilling, mine development and engineering, in order to support the Copperstone Mine plan towards a production decision.