Gold news pushes up share price

PUBLISHED : Tuesday, 22 March, 1994, 12:00am
UPDATED : Tuesday, 22 March, 1994, 12:00am

HONG Kong Macau Holdings yesterday attributed the massive share price jump in its associate company, Carrie Pacific Holdings, to the encouraging results of channel sampling at its Saran Hard Rock Gold Project in West Kalimantan, Indonesia.

Carrie Pacific's share price jumped from A$0.40 (about HK$2.20) to $0.80 on March 18.

Carrie Pacific develops gold projects through its 80 per cent owned subsidiary in Indonesia, PT Eastara Melawi Mineral.

The much higher grades from vertical channel sampling reflect the presence of gold in vertical jointing observed from the surface.