UPDATE: Canadian Orebodies Inc Up 20%, Follows Yesterday's Mineral Resource Estimate


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(Reissuing story of 10 minutes ago to specify full name of company in the headline)

Canadian Orebodies Inc. (CO.V) is up 5.5 cents at 33.5 cents and has touched a day high 36.5 cents, compared to a year high 49.5 cents. Around 7 million shares have changed hands today.

The company yesterday reported the results of the initial independent National Instrument ( NI ) 43-101 Mineral Resource estimate. Using information from the 2011 drill program on the Haig Inlet Iron Ore Project, located on the Belcher Islands in Nunavut, Canada, the estimate indicated iron ore resource of 230 million tonnes at 35.17% iron and an additional inferred resource of 289 million tonnes at 35.47%.

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This article appears in: Investing , Commodities

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