0.769p

Gain to date: 24%

High-grade drill results (6 Mar) set the scene for a busy few weeks ahead for North River Resources (NRRP:AIM) which we reckon has the potential to become one of the best-performing junior mining stocks of 2014. The exploration results for its Namib project in Namibia include 23.3 metres of 20.5% combined lead and zinc which is much richer than metal grades typically seen in today’s world of exploration.

House broker VSA Capital says some of the intercept lengths and grades ‘rival the richest operating lead/zinc mines worldwide.’ The real kicker for the share price should be the feasibility study on Namib, due by the end of March. As we discussed in the original piece (see Plays, Shares 17 Oct ‘13), the study is likely to show significantly attractive economics which is exactly what investors desire in mining stocks these days, given depressed commodity prices.

A £4.3 million cash requirement, just under half its market cap, should be an easy raise once the economic study is published. (DC)