Great Quest rises on Mali’s phosphate potential

It must have been one inspiring annual shareholders meeting for Great Quest Metals (GQ-V) as the company’s shares jumped just a day after it was concluded.

In Toronto on June 14 the company’s shares were up 26% or 85¢ to $4.15 on 98,400 shares traded.

The meeting was highlighted by reports that its drilling programs in Mali are pushing forwards as drills continue to hit phosphate on both its Tilemsi Phosphate project in eastern Mali and the Company’s Sanoukou Gold project in western Mali.

The latter project is currently seeing hole 6 of a 16 being drilled while at Tilemsi the company has already drilled 100 holes at the Alfatchafa and Tin Hina target areas.

Tilemsi stretches out over 737 sq. km and phosphate deposits occur on the property in a similar geological sedimentary setting to the phosphate deposits found in Morocco – which is the world’s largest source of phosphate.

As the company sets to start growing phosphate resources in Mali it has also grown it’s board of directors. The meeting saw the board re-appoint the existing six members and add a seventh in the form of Gordon Peeling, who served as president of the Mining Association of Canada for 14 years. He retired from the position in April of this year.