• New nickel stock Lunnon up ~50% on debut
  • Firefinch will team up with Ganfeng to develop its world-class Goulamina lithium project
  • Petratherm snatches up ground close to the recent ‘Emmie Bluff Deeps’ Iron-Oxide Copper-Gold (IOCG) discovery in South Australia

Here are the biggest small cap resources winners in morning trade, Wednesday June 16.



The ASX debutant rushed out of the gate to shift up ~50% on its IPO price of 30c per share by 11:30am eastern time.

Backed by major shareholder Gold Fields, Lunnon is hunting for nickel in the renowned Kambalda district of WA.

The ‘Kambalda’ project includes 23sqkm of contiguous mining tenements, two historic mining operations and 39,000t of nickel resources.

The company – which has spent ~$6m exploring the project since 2014 – plans to “test the portfolio of high quality nickel and gold targets, undertake further resource estimation work to add to the existing JORC Mineral Resources, and to complete activities related to the re-establishment of the site infrastructure”.



(Up on no news)

This sleepy minnow owns six exploration licences spanning 919.08sqkm in Queensland and the Northern Territory, and a gold and copper joint venture in Macedonia.

In the Northern Territory, previous rock chip samples delivered grades of up to 40 per cent copper.

The Plavica gold-silver-copper project in Macedonia appears to be the main focus for the company, with metallurgical studies ongoing.



Firefinch will team up with the world’s largest producer to develop “the world’s next lithium mine of scale”.

The binding deal will see Firefinch establish a 50:50 joint venture (JV) with Ganfeng – which supplies tier 1 battery players such as BMW, LG Chem and Tesla — to develop Firefinch’s world-class Goulamina lithium project.

Ganfeng will invest $US130m in three tranches for its 50% share of the project, the final $US91m to be made upon a Final Investment Decision (FID).

These funds, together with up to US$US64 million in debt funding to be arranged by Ganfeng, are expected to fund the project into production.

Gold-focussed Firefinch intends to demerge its interest in Goulamina into a separate lithium-focussed entity to be listed on the ASX.



Petratherm has snatched up ground close to Coda Minerals’ (ASX:COD) recent ‘Emmie Bluff Deeps’ Iron-Oxide Copper-Gold (IOCG) discovery in South Australia.

Here are a bunch of other explorers with ground in the area.

Just north of Petratherm’s 205sqkm ‘Woomera’ project, a 1980 drillhole intersected “interpreted IOCG related iron formation strata” which returned 62m @ 0.33% copper from 864m.

Promising stuff.



The lure of Hemi ‘nearology’ is still strong, it seems.

New Age has newly granted tenure adjacent to and within 60km2 of De Grey Mining’s (ASX:DEG) Hemi gold deposit in WA.

“We are very excited and remain highly motivated with the continued developments across our entire Pilbara package,” NAE exec director Joshua Wellisch says.

“As planned, we are continuing at pace with our activities on the tenements south of De Grey’s Hemi deposit.

“With multiple assays pending and newly granted tenure, we look forward to providing further updates to the market in the coming weeks.”