Proactive Spotlight:
Shares in Ferrum Crescent Limited (LON:FCR) were sharply higher after the metals developer moved another step closer to getting drilling underway at its Toral lead-zinc project in Spain.
The company has contracted Spanish firm Sondeos y Perforaciones Industriales de Bierzo (SPI) to carry out the planned phase 1 drill programme.
SPI conducted the last known drilling campaign at Toral back in 2007, which Ferrum said proves the capability of its rigs.
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The contract is for a minimum of 1,400m and a maximum of 2,100m and is expected to take three months to complete. Ferrum is paying €80 for every metre completed.
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