Weekly ASX small cap wrap: It’s the Don of a new day
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The Aussie market climbed to its highest point since February 2020. Miners enjoyed a stellar week as the iron ore price rallied to $US171 a tonne and copper prices pushed to an eight-year high.
In other news:
Trump finally shuts up after being temporarily banned from his social media accounts.
Billionaire tech mogul Jack Ma – who has been missing for 3 months — was found repairing his mum’s aircon.
And this punter successfully made $US187.29 after two years in the stock market. Well-deserved gains.
What a week to be in copper.
Copper explorer Cohiba received a query from the ASX after shares surged 81 per cent from 2.1c on the last day of 2020 to an intra-day peak of 3.8c on Thursday.
CopperMoly (ASX:COY) – a PNG focused copper-gold explorer which hasn’t actually done a whole lot of exploring lately – earnt an ASX speeding ticket after surging +100 per cent on Friday.
And fellow copper play Argonaut (ASX:ARE) has the all clear to drill its Murdie project in South Australia.
The explorer is hunting iron oxide copper-gold (IOCG) mineralisation in the style of Olympic Dam, Carrapateena and BHP’s recent Oak Dam discovery.
Lepidico has been advised by one prospective customer that its analysis of a lithium hydroxide monohydrate sample provided in 2020 should be completed in early 2021, allowing offtake discussions to advance.