In Case You Missed It: Nickel, copper, PGEs and uranium take the cake
Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today.
It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.
Stocks highlighted in blue have made market-moving announcements (click headings to sort).
Western Yilgarn (ASX:WYX) has identified multiple targets for drilling at its Bulga mining project in WA, where it’s going for a variety of minerals, including nickel, copper, gold and, yep, some lithium, too.
The Bulga project is situated in what appears to be a potentially advantageous position, near two Tier 1, world-class nickel projects operated by BHP (ASX:BHP) – the Leinster and Mt Keith operations – as well as several 2Moz+ gold operations including the renowned Agnew, Lawlers and Bellevue mining projects.
And throwing in some blue-sky lithium near-ish-ology for good measure, Bulga is also about 60km north of Delta Lithium (ASX:DLI)‘s Mt Ida Lithium Project and roughly 90km south of Liontown Resources (ASX:LTR)‘s huge Kathleen Valley Lithium Project.
Basin Energy (ASX:BSN) is taking to the skies over the world-class Athabasca uranium district as it surveys its highly prospective Geikie project using proven Airborne Gravity Gradiometer (AGG) survey technology.
BSN is surrounded by several world-class high-grade uranium discoveries and operations at Athabasca, a top 3 global uranium mining district for over 45 years.
Cameco’s (TSX:CCO) McArthur River mine, for example, contains 674.9Mlbs at an eyewatering grade of 16.9% and IsoEnergy’s (TSXV:ISO) new Hurricane discovery tops 48.6 Mlbs U3O8 at 34.5%, making it the world’s highest-grade uranium resource.
Nimy Resources (ASX:NIM) has bagged itself $2.5 million as a major, cornerstone investment from New York-based Lind Partners, in order to get cracking on its nickel and lithium drilling programs at the Mons project, north-east of Perth, WA.
Lind is a manager of institutional funds focused on providing growth for promising small- and mid-cap companies publicly trading in the US, Australia, Canada and the UK.
Lind Partners founder Jeff Easton meanwhile noted that his firm has been keeping an eye on both Nimy Resources and De Grey Mining (ASX:DEG) for some time, adding:
“We are confident both our interests are aligned given managements continued and significant shareholding in the company. Nimy is preparing a drill campaign on Priority One targets for Nickel and Lithium at The Mons Project and we are very excited to see what they yield.”
Online print-on-demand marketplace Redbubble (ASX:RBL) is implementing cost-savings measures – but has yet to see the payoff – reporting FY23 Marketplace revenue was 467.5 million, down 3% on the pcp.
For FY24, the Gross Profit After Paid Acquisition (GPAPA) margin is expected to be between 23% and 26%.
At Stockhead we tell it like it is. While Western Yilgarn and Basin Energy are Stockhead advertisers, they did not sponsor this article.