Noble Mineral Resources Ltd's share price has jumped by 21% on Tuesday on the news of its increased estimated resource at its Bibiani gold project in Ghana, West Africa. Shares of the company came out of a trading halt on Tuesday to close at 35 cents, increasing by 6 cents or 20.69%.

The new study by the company at its Bibiani gold project in Ghana showed that mining could recommence at the site. According to the estimations in the study the Bibiani mine has resources at the rate of 22%. According to the study made by the company, the measured, indicated and inferred mineral resource at the project was reported 32.98 million tons at an average grade of 1.87 grams per ton.

The company said that the increased estimated size of the resource at the Bibiani mine has provided the company a sturdy platform to reinvent the mine and its operations to churn out success story from it. However the company is surging for a gold domain which has robust potential.

"We are looking forward to completing the pre-feasibility study, finalizing ore reserve estimates and announcing completion of our detailed operational and business plan for the Bibiani gold mine," said Wayne Norris, managing director of Noble.