Tertiary Minerals addresses share price falls

TERTIARY Minerals, the Macclesfield-based minerals group, says its is perplexed by a recent slump in its share price.

The AIM company, which is mining for the industrial mineral fluorspar in locations such as Nevada in the US,  said the recent downward move in its share price is exaggerated and unjustified.

Its directors said  they knew of no reason for the falls – the price, which has recently fallen from 12p to 7p, recovered to 7.25p in early trading .

The firm said: “We recognise that our shareholders have been supportive of the company and as the company’s share price has appreciated significantly as a result of the development of its projects, shareholders periodically may wish to realise any gains made on share price appreciation.”

“The directors are confident in the future prospects for the company”, the statement concluded.