Resources Top 5: This recharged lithium explorer is up ~370% in 2022
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Here are the biggest small cap resources winners in early trade, Friday September 23.
This rejuvenated lithium junior is enjoying a fantastic run, up ~370% year-to-date.
RAS started acquiring a early-stage Northern Territory lithium project back in May.
The so-called NT ‘Supergroup’ lithium project area is within the Litchfield Pegmatite Belt – host to Core Lithium’s (ASX:CXO) neighbouring Finnis Project, Lithium Plus (ASX:LPM), Charger Metals (ASX:CHR) and others.
Earlier this week it nabbed another lithium exploration tenement in the NT. Two more tenement applications are currently being processed by the NT Mineral Titles office.
$47m market cap RAS has completed planning of an initial drilling program, which is set to begin “shortly”, the company says.
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AVM used to be Pacific American Holdings (ASX:PAK) a stock focused on the advanced 303.1Mt Elko coking coal project in Canada.
While Elko remains in the portfolio, the focus turned to copper and gold, at a time when coal prices and investor sentiment were in the crapper. That is certainly not the case anymore.
Still, the company has held its nerve, changing its name to Advance earlier this year.
Its main game now is the early-stage Garnet Creek (copper) and Anderson Creek (gold) projects in Idaho, USA. It also has a hydro project in the portfolio.
Earlier this week it announced the discovery of mineralised anomalies at Garnet Creek covering an 8km long by 3km wide area.
“The capacity of the mineral system at Garnet Creek was never fully realised due to historically fractionated land ownership preventing the recognition of a district-scale system,” COO Dom Hill says.
“The rocks, mineralisation style, and new exploration insights support potential for the district to host a porphyry-style copper mineralising system and substantiate the opportunity for Advance Metals to encounter a significant mineral system underlying these historic and new surface discoveries at depth.”
AVM now has enough data to support the drill permitting process at Garnet Creek, it says.
Personnel are currently on site working to optimise drill pad locations and target channel sampling of mineralised rock on existing and newly acquired claims.
The $8m market cap minnow is down 30% year to date.
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Like Advance, the explorer formerly known as Prairie Mining did a full 180-degree swivel by dumping fossil fuels in favour of sexier, ‘new age’ metals like copper, nickel and PGMs.
The main game is some newly acquired ground in Greenland called ‘Arctic Rift’, where historical exploration results show its potential to “host world-class copper deposits”.
GRX can earn 80% of the project by spending $10 million by October 2026.
As a potentially rather large bonus, GRX say a $1.3 billion (yes, billion) claim for damages against Poland is well advanced.
Claim costs are funded by Litigation Capital Management (LCM), which won’t get paid unless they win.
Since 1998 LCM have funded 237 disputes, with 226 of those being successful. That’s a success rate of over 95%, says GRX.
The $72m market cap stock is up 26% year-to-date.
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Another reskinned junior stock.
OLY — formerly a failed hemp stock called Croplogic — re-listed as a WA gold, nickel, and lithium explorer in May this year after raising $6m at 20c per share.
In August, it identified numerous pegmatite intersections in historic drilling at its Mulwarrie project near Kalgoorlie, in the same province as Red Dirt’s (ASX:RDT) Mt Ida lithium project.
Mapping and sampling of newly identified areas were “to commence immediately”, it said 16 August.
Later the same month OLY defined a couple of priority gold targets at the Halls Creek project.
“Our on-field exploration and systematic data-compilation have highlighted several areas at the Rubens and Figaro prospects that are under-explored and require follow-up drilling,” OLY managing director Sean Delaney said 29 August.
“The Olympio exploration team will be back in the field in this week, refining these drill targets and working towards our maiden drill program in Q4 this year.”
The $7.8m market cap stock is flat since relisting.
(Up on no news)
Phosphate stock AEV has gained 66% since announcing a move into LFP battery cathode production earlier this week.
AEV inked a non-binding deal with Lithium Iron Phosphate (LFP) battery manufacturer Aleees and the NT government to build a battery cathode manufacturing plant in Darwin, leveraging Avenira’s flagship 67Mt Wonarah phosphate project.
EV, Aleees and the NT will now work towards a LFP battery cathode manufacturing facility in a phased capacity program starting at 5,000-10,000tpa in 2023/24 and potentially scaling to 200,000tpa by 2032.
A Wonarah scoping study – the first proper look at the economics of building a project — is also nearing completion, AEV says.
They are ostensibly cheaper than NCA or NCM (nickel manganese cobalt) cells, mainly because they don’t require scarce and price-volatile metals such as nickel or cobalt.
They also have much longer useful lifetimes, though this is offset by lower energy densities.