11:07 AM EDT, 07/03/2024 (MT Newswires) -- Pan Global Resources ( PGZFF ) was last seen up 10% after saying exploration has begun at its Carmenes copper, nickel, cobalt and gold project in northern Spain.

The project is centered over two past-producing polymetallic mines, Profunda and Providencia, and is 70 kilometers southeast of Orvana Minerals' (ORV.TO) Orovalle mining operation in the same geological belt.

"The Carmenes Project ... represents a compelling addition to Pan Global's exploration pipeline in Spain, targeting exceptionally high-grade copper, nickel, and cobalt, which are all metals critical for the global energy transition, plus a potentially significant association with gold," said Tim Moody, Pan Global's chief executive, in a release.

The company's shares were last seen up $0.015 to $0.16 on the TSX Venture Exchange.

Price: 0.16, Change: +0.02, Percent Change: +10.34