EXPLORATION & DEVELOPMENT

Kula uncovers large resource at low cost

Company looking at development options

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The resource included an indicated component of 15.2Mt.

The orebody remains open laterally in all directions.

Discovered in July 2021, Kula said the resource was delineated at a cost of just A$1.2 million.

The company has identified the potential to produce metakaolin for the green construction industry.

It said metakaolin could replace about 15% of concrete production, reducing emissions.

Kula is planning metallurgical studies and will progress approvals for an open pit development to produce 200,000-500,000 tonnes per annum.

Shares in the company rose as high as 3.7c and last traded 9.6% higher at 3.4c, giving it a market capitalisation of $7.3 million.

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