This is chapter two of Stockhead’s ‘forgotten resources stocks that could conceivably be the next multi-bagger’ series, focusing on the $5m to $10m market cap bracket.

Part 1, which highlighted the sub $5m market cap group,  has already thrown up a couple of decent winners since the story was published last week.

They include Tao Commodities (ASX:TAO), which is no longer a $3m market cap battler after inking an option to buy the ‘Titan’ titanium and zircon mineral sands project in the US.

Meanwhile, graphite play Blackearth Minerals (ASX:BEM) rode Tesla ‘Battery Day’ mania into a decent share price spike.

There are currently ~96 resources stocks on Stockhead’s list with a market cap between $5m and $10m. Where’s the next multi-bagger coming from?

Here’s a list of ASX resources stocks with a market cap between $5m-$10m [Wednesday September 30]

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE NAME SHARE PRICE [intraday Sep 30] Weekly Return % Yearly Return % MARKET CAP
VKA Viking Mines 0.016 23 45 $ 5,019,485.70
TYX Tyranna Resources 0.004 -20 -20 $ 5,129,442.67
ARM Aurora Minerals 0.022 0 69 $ 5,153,864.50
OKJ Oakajee Corp 0.057 14 36 $ 5,171,098.71
A1G African Gold 0.165 0 -15 $ 5,179,604.76
FIN FIN Resources 0.018 -5 38 $ 5,250,445.88
DMG Dragon Mountain Gold 0.02 0 0 $ 5,270,610.30
WCN White Cliff Minerals 0.011 0 69 $ 5,352,598.70
MRD Mount Ridley Mines 0.002 -33 33 $ 5,365,587.90
SXX Southern Cross Exploration 0.005 0 0 $ 5,386,216.00
RMG RMG Limited 0.007 0 0 $ 5,499,654.09
AQC Australian Pacific Coal 0.11 -15 -21 $ 5,553,329.10
CMC China Magnesium Corp 0.011 0 0 $ 5,563,490.77
MRR Minrex Resources 0.027 8 170 $ 5,588,200.48
KGD Kula Gold 0.036 6 149 $ 5,609,002.75
KOR Korab Resources 0.017 6 -19 $ 5,652,380.68
APG Austpac Resources 0.002 0 0 $ 5,668,004.33
ENV Enova Mining 0.017 0 -43 $ 5,757,200.35
LCD Latitude Consolidated 0.021 0 50 $ 5,778,759.04
CAE Cannindah Resources 0.024 9 60 $ 5,797,988.45
SFM Santa Fe Minerals 0.08 0 -11 $ 5,825,503.12
CDT Castle Minerals 0.012 0 20 $ 5,838,469.09
DAF Discovery Africa 0.03 0 30 $ 6,067,040.94
ZMI Zinc of Ireland 0.05 11 -50 $ 6,076,739.55
SMI Santana Minerals 0.003 0 0 $ 6,105,673.46
TRL Tanga Resources 0.045 29 13 $ 6,153,054.03
AHN Athena Resources 0.02 0 0 $ 6,160,675.58
CSE Copper Strike 0.058 -3 45 $ 6,196,998.98
BDI Blina Minerals 0.1 0 0 $ 6,268,771.46
MLM Metallica Minerals 0.02 -9 54 $ 6,477,829.82
OKR Okapi Resources 0.18 0 -28 $ 6,487,715.88
RLC Reedy Lagoon 0.014 17 250 $ 6,576,272.98
TAO TAO Commodities 0.21 75 62 $ 6,591,200.07
ARN Aldoro Resources 0.1 -5 -41 $ 6,638,080.30
HIP Hipo Resources 0.015 0 25 $ 6,639,035.60
4CE Force Commodities 0.012 0 -33 $ 6,691,857.08
PUR Pursuit Minerals 0.014 8 40 $ 6,721,530.42
EMT Emetals 0.017 -11 -58 $ 6,803,400.00
THR Thor Mining 0.016 0 60 $ 6,806,241.86
BEM Blackearth Minerals 0.06 58 22 $ 6,819,331.26
PEL Pelican Resources 0.017 0 0 $ 6,946,049.38
TIN TNT Mines 0.205 5 105 $ 7,070,159.72
SUH Southern Hemisphere Mining 0.044 7 146 $ 7,170,232.87
PAK Pacific American 0.023 -8 -32 $ 7,235,452.70
RFR Rafaella Resources 0.08 7 -33 $ 7,246,045.68
SCI Silver City Minerals 0.015 -12 50 $ 7,289,403.80
MOH Moho Resources 0.105 -9 36 $ 7,300,818.74
HHM Hampton Hill Mining 0.025 0 0 $ 7,370,134.48
AYM Australia United Mining 0.004 0 300 $ 7,370,309.94
BYH Bryah Resources 0.056 6 -25 $ 7,384,935.04
MQR Marquee Resources 0.072 0 -12 $ 7,459,927.34
SRZ Stellar Resources 0.016 0 21 $ 7,519,794.69
RDN Raiden Resources 0.014 8 75 $ 7,540,031.14
SHH Shree Minerals 0.01 -17 67 $ 7,592,368.93
PGI Panterra Gold 0.039 0 44 $ 7,610,524.31
VAL Valor Resources 0.004 -20 -33 $ 7,683,392.34
NCR Nucoal Resources 0.01 -9 -41 $ 7,686,123.54
FNT Frontier Resources 0.016 0 23 $ 7,825,631.01
G88 Golden Mile Resources 0.064 7 -16 $ 7,873,172.99
FAU First Au 0.019 12 36 $ 7,875,968.10
ESR Estrella Resources 0.013 -7 63 $ 7,925,421.36
VAR Variscan Mines 0.038 -3 -5 $ 7,983,554.94
AMD Arrow Minerals 0.006 -33 -33 $ 8,007,828.06
BMG BMG Resources 0.012 -14 200 $ 8,057,806.78
ACP Audalia Resources 0.012 0 140 $ 8,065,634.29
GED Golden Deeps 0.015 -6 -48 $ 8,076,610.49
RMX Red Mountain Mining 0.008 0 14 $ 8,104,294.20
TMZ Thomson Resources 0.046 0 51 $ 8,215,250.86
ORM Orion Metals 0.016 0 14 $ 8,228,759.09
NES Nelson Resources 0.072 11 42 $ 8,265,754.22
CRB Carbine Resources 0.042 0 0 $ 8,389,362.62
REZ Resources & Energy Group 0.022 -4 -55 $ 8,528,976.94
ODM Odin Metals 0.033 6 -81 $ 8,570,738.06
RIE Riedel Resources 0.021 0 110 $ 8,779,463.68
DAU Dampier Gold 0.031 3 29 $ 8,833,776.74
RDS Redstone Resources 0.017 -11 143 $ 8,842,210.27
GBM GBM Gold 0.008 0 0 $ 8,946,556.45
DCX Discovex Resources 0.0075 -6 -17 $ 8,971,230.57
MLS Metals Australia 0.0025 -17 25 $ 9,120,881.94
CXM Centrex Metals 0.029 7 -69 $ 9,154,875.35
ENT Enterprise Metals 0.017 -15 95 $ 9,250,533.60
CUL Cullen Resources 0.031 -6 114 $ 9,297,447.37
GLA Gladiator Resources 0.004 0 300 $ 9,311,336.68
NWM Norwest Minerals 0.16 39 -20 $ 9,433,769.44
CXX Cradle Resources 0.05 0 -15 $ 9,484,089.15
WML Woomera Mining 0.028 12 57 $ 9,525,226.03
B2Y Bounty Mining 0.029 0 -64 $ 9,542,957.82
TEM Tempest Minerals 0.041 -16 -15 $ 9,661,653.61
CNJ Conico 0.022 38 175 $ 9,725,688.90
AX8 Accelerate Resources 0.068 -9 69 $ 9,740,811.91
CZN Corazon 0.003 50 24 $ 9,760,077.44
GBR Great Boulder Resources 0.052 8 32 $ 9,779,108.04
CYM Cyprium Metals 0.175 3 -5 $ 9,810,409.35
DAV Davenport Resources 0.05 19 22 $ 9,852,627.45
CAP Carpentaria Resources 0.036 -10 -23 $ 9,904,771.33
CZL Consolidated Zinc 0.004 -13 -61 $ 9,964,979.78

 

Who’s drilling for the big one?

The only certainty in mineral exploration is this: if you aren’t drilling, you won’t find anything.

There are a number of overlooked sub-$10m market cap juniors drilling right now (or very soon) in the hunt for that elusive ‘company maker’.

A three hole, 1,000m drilling campaign will kick off this month at Fin Resources (ASX:FIN) McKenzie Springs nickel-copper-PGE project, which neighbours Panoramic Resources’ (ASX:PAN) Savannah nickel-copper mine.

WA gold explorer Aldoro Resources (ASX:ARN) is awaiting results from recent drilling at ‘Penny South’, which neighbours Spectrum Metals’ company making Penny West project.

Also spinning the drill bit — or awaiting results — is Bulgarian gold explorer Raiden Resources (ASX:RDN), WA-based Golden Mile Resources (ASX:G88), and Arrow Minerals (ASX:AMD), which is trying to figure out how big the Dassa gold discovery in Burkina Faso really is.

 

Who’s looking for a new project to make it a multi-bagger?

Buying a new project which captures the investor imagination is one way explorers can get a rerate.

How many of these stocks are running the ruler over potentially company changing acquisitions? Quite a few, as it turns out.

Oakajee Corp (ASX:OKJ) is a quiet WA gold explorer “looking for opportunities” with about $3.1m in the bank at the end of FY20.

Dragon Mountain Gold (ASX:DMG) is “reviewing a number of exploration projects” after a tech-based acquisition fell through.

Industrious West Australian-West African goldie Castle Minerals (ASX:CDT) is looking for fresh ground after farming out a Ghanaian project last year.

The lucrative deal will see private company Iguana Resources spend up to $US11.7m ($16.3m) on exploration over five years to earn an 80 per cent interest.

Castle also has a 4 per cent gold royalty on a licence which “forms a key component” of recent takeover target Azumah Resources’ +1moz Wa Gold project.

Discovery Africa (ASX:DAF) – which had $2.1m in the bank at the end of FY20 – just shelled out $5,000 for a WA gold project, but is still “proactively working to identify and review other new projects”.

Beleaguered mineral sands explorer/shell company Metallica Minerals (ASX:MLM)  also “continues to review several opportunities in the gold/precious metals-copper and other mineral commodity sectors”.

Fellow shell Riedel Resources (ASX:RIE), which has a minor interest in Norwest Minerals’ (ASX:NWM) Marymia gold project, has been reviewing projects since March 2019.

The explorer, which spiked on no news last week, has just gone into a trading halt regarding a “proposed material transaction”. Ooooh.