Shares in the perhaps lesser-known minerals explorer Belararox Ltd (ASX: BRX) are surging 44.37% higher today and now trade at $1.025.
The gains extend a busy period for the company, where its share price has spiked 47% in the past month.
Belararox is a mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets, according to its website.
The company first listed back in January and since then its share price has skyrocketed from 21 cents to its current levels, securing large gains for early investors.
Its projects currently span to include the potential for zinc, copper, gold, silver, nickel and lead resources, per the company.
It trades on a fully-diluted market cap of $29.04 million at the time of writing and doesn't pay a dividend.
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What's behind Belararox shares lately?
Investors piled into Belararox after it announced potentially new mapped targets at its Belara project last month.
The project is set to be an asset producing copper, lead, zinc, silver and gold for the company if and when all drilling and testing outcomes are finalised.
Additional findings support the potential for additional sulphide mineralisation at further sections along the project's belly.
Following the announcement, there was an all out war between the bulls and the bears. After spiking hard to a high of $1.45, shares soon cooled off and returned to rest within the longer-term uptrend.
Investors weren't as galvanised when the company followed up with another announcement on 30 March noting that a gravity survey had confirmed the results above.
In fact, in the days following, there's been a correction in the Belararox share price. Nevertheless, the company is back in favour today and has printed a 44% gain.
Since listing earlier this year, the Belararox share price has soared 413% into the green, much to the delight of initial shareholders.
