On Stockhead today, the million-oz goldie juniors you might have missed, and why you should be long oil. Also, why you should be long gas.

But first… the day ahead.

Listing at 11am AEST is Cavalier Resources (ASX:CVR) with three near-term gold and nickel projects in WA.

 

TRADING HALTS

The following companies went into trading halts today and are expected out in the next few days:

 

Triton Minerals (ASX:TON) – announcement around a security incident at its Ancuabe graphite project in Mozambique

92 Energy (ASX:92E) – capital raising

Tesoro Resources (ASX:TSO) – capital raising

 

MARKETS

Gold: $US1,849.52 (-3.71%)

Silver: $US21.98(-0.053%)

Nickel (3mth): $US28855/t (+3.26%)

Copper (3mth): $US9,730/t (+2.33%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, June 1): $US69,450/t (0.1% weekly)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 1): $US70,875/t (0.0% weekly)

Oil (WTI): $121.77 (-0.34%)

Oil (Brent): $US123.27 (-0.31%)

Iron 62pc Fe: $US147 (+0.50%)

AUD/USD: $US0.71726 (-0.24%)

Bitcoin: $US30,291.67 -0.50%)

 

WHAT GOT YOU TALKING YESTERDAY?

Which small caps are in the +1Moz gold club? But this is only part 1 of the story – keep an eye out for part 2. (Actually, it’s just here.)

 


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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

 

YESTERDAY’s BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

 

Up about one million per cent yesterday on no news is Pearl Gull Iron (ASX:PLG)

First up, what’s fun about Pearl Gull Iron is its mining title over a significant whack of Cockatoo Island.

Cockatoo Island is situated off the coast waaaaay up in northwest Australia where its ‘rich history of high-grade iron ore mining since the 1950s’ can be continued in shrouded mystery, if not secrecy.

PLG is drilling into thick, high-grade iron ore goodness at the ‘Switch Pit’, including ~57m grading 68.9% fe from ~80m.

That’s high. The benchmark grade often quoted is 62% fe – anything higher than this can attract a substantial price premium from buyers.

Aside from rare exceptions like Mount Gibson Iron’s (ASX:MGX) Koolan Island mine – right next door to Cockatoo — Australia doesn’t have many high grade hematite resources like those in Brazil or Africa.

Geological and resource modelling has now kicked off and expected to be delivered very soon.

“Once our resource work is complete, we look forward to updating the market with further plans for our high-grade iron ore project,” chairman Russell Clark says.

The $3m market cap minnow is down 30% year-to-date. It had $1.1m in the bank at the end of March.

And Race Oncology (ASX:RAC) told the market it will be conducting an on-market share buyback, running over the next 12 months with an many as up 4 million Race Oncology shares up for grabs.

 

YESTERDAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.