May Winners Column: Gold is still #1 but uranium casts a warm glow
Link copied to
Here are the top 50 small cap stocks for May — a month defined by high flyin’ uranium explorers, lots of gold … and only one hand sanitiser company.
“The stock market is not a proxy for the real economy,” analysts say. It’s an axiom that bears repeating.
Even the US’ proverbial bin fire of an economy did not impede Wall Street’s strong back-to-back monthly gains.
Global markets more generally continued to shrug off the big macroeconomic issues and a smattering of China-US pomposity.
The ASX200 Index posted an 8.5 per cent gain over the month.
Unlike April, there were no +1000 per cent gainers in May. Still, there were plenty of good stories for investors to sink their teeth into, with 58 small cap companies post gains of 100 per cent or more.
HERE’S THE TOP 50 SMALL CAPS FOR THE MONTH OF MAY >>>
Scroll or swipe to reveal table. Click headings to sort.
An existing structural supply deficit in the global uranium market, aggravated by ongoing COVID-19 supply disruptions, has sent the uranium ‘spot’ price up +33 per cent year-to-date.
Adding to an already bullish outlook for uranium, the Trump Administration has shown a strong desire to revive the domestic uranium industry.
WA gold explorers dominated the Top 50.
Minnow Metalicity (ASX:MCT) jumped 200 per cent as it kicked off new drilling at the historic, high-grade Kookynie gold project in the Eastern Goldfields.
Struggling vanadium play Sabre Resources (ASX:SBR) acquired a gold project in WA and immediately jumped 200 per cent.
And there’s also plenty of tier 1 project opportunities for ASX-listed companies in the US and Canada, gold-rich countries which have suffered from a lack of exploration in recent years.