Closing Bell: Today’s biggest small cap movers on the ASX
Link copied to
A quick wrap of the key winners and losers on Wednesday, May 20.
Data is taken after the market closes at 4pm EST.
Stocks highlighted in yellow made potential market-moving announcements during the day.
Minnow PanTerra Gold (ASX:PGI) almost doubled its market cap after finalising a joint venture to develop the advanced La Demajagua gold-silver deposit in Cuba.
PanTerra — chosen by the Cuban government’s mining company as a proposed 49 per cent JV partner way back in October 2018 — wants to produce ~60,000 tonnes a year of concentrate expected to grade around 47 grams per tonne (g/t) gold and 380g/t silver for at least six years.
Rare earths-focused explorer RareX (ASX:REE) jumped today on some non-rare earths related news.
RareX, which also has a free-carried 35 per cent interest in five copper-gold projects in the popular Lachlan Fold Belt, says project partner Kincora Copper has just hit “multiple mineralised zones” in drilling at the ‘Trundle Park’ target.
The stock was up +65 per cent for the day.
US lithium play Anson (ASX:ASN) jumped +55 per cent on a preliminary economic assessment (PEA) for its Paradox brine project in Utah.
The company is now in a trading halt pending an announcement “regarding additional information” in relation to its PEA.