Resources Top 5: Are gold juniors making a comeback?
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Here are the biggest small cap resources winners in early trade, Friday October 8.
HNR, with tech developed by unlisted Australian registered company Critical Metals, wants to recycle metal from scrap and spent batteries in Norway, Sweden, Denmark, and Finland.
The Nordic countries have some of the highest electric vehicle (EV) penetration rates in the world.
The first of three conditions precedent to the execution of a definitive agreement, approval by Critical Metals shareholders, has now been satisfied.
The final two conditions precedent are expected to be satisfied by 30 November 2021, HNR says.
The $60m market cap stock is up 190% over the past month.
Previously known as Stone Resources, Brightstar is focussed on its namesake 445,000-ounce gold project in the Laverton region of WA.
It also owns a mothballed 330,000 tonne-per-annum processing plant, which sets it apart from most explorers on the ASX. This could potentially shorten any timeline to production.
The focus right now is growing resources at the 237,000oz ‘Cork Tree Well’ deposit, where drilling assays are due in mid-late October.
More than 26 holes for ~4,000m have been completed so far, the company says.
Today, it topped up its coffers with an oversubscribed $2.3 million placement.
“We are excited to have completed the Placement, with the necessary funding on hand to significantly advance the Cork Tree Well deposit,” managing director Bill Hobba says.
“The current drilling program is proceeding ahead of schedule and under budget and given this is the first program since 2012 it is exciting to see the anticipated gold-bearing geology where it is modelled.
“This drilling is expected to increase the size and confidence category of the current JORC Resource at Cork Tree Well.”
The $15m market cap stock is up 33% over the past month.
(Up on no news)
NXM keeps hitting high-grade gold at the emerging ‘Wallbrook’ gold project in WA.
“There’s a bit of buzz about this one after high-grade results from drilling at its Templar prospect suggested it could be linked to the Crusader prospect some 1.2km away,” Barry Fitz says.
“Comparisons are being made to Northern Star’s (ASX:NST) nearby multi-million-ounce Carosue Dam gold operations.”
Earlier this week the Explorer ramped up drilling at the Crusader–Templar prospect and across the broader Wallbrook tenement package.
30,000m of reverse circulation and 3,000m of diamond drilling is planned for the December quarter.
Regional exploration will also be bolstered with a combination of RC and aircore drilling to be completed across several priority targets in the December quarter.
The $107m market cap stock is now up ~390% over the past six months.
This newly minted producer owns the historic high grade underground A1 gold mine and processing plant at ‘Maldon’ in Victoria.
A1 — which has produced ~500,000oz of gold since 1861 – is currently in ramp-up.
During the five-month period under the KAU’s ownership, the A1 mine produced 2,178oz and sold 2,192oz of gold at an average price of $2,320, the company said in the annual report released October 1.
KAU is currently digging a decline to access increased production sources, starting with the thick, and high grade ‘Queens Lode’.
Today, the company announced its decline had reached the previously unmined Queens Lode, with first ore already shipped for processing.
Drilling results from the Queens Lode completed prior to first mining continued to deliver excellent results, like 26.1m @ 6.2g/t gold from 33.6; including 12.2m @ 10.3g/t gold from 39.8m.
“Developing the Queens Lode is planned to provide a strong increase in production rates at lower rates of costs per tonne,” the company says.
The $26m market cap stock is up ~20% over the past month.
(Up on no news)
Yesterday, DLC said samples from the recently acquired ‘REX’ uranium project were rejected by a lab in Nevada due to radiation limits exceeding laboratory thresholds.
Super high grade, in other words.
Delecta says all samples will now be sent to another lab with the processing capability to measure elevated levels of Naturally Occurring Radioactive Materials (NORM) uranium samples.
“It’s encouraging that interim assays have returned elevated levels of uranium mineralisation from initial sampling programs and the company considers the small delay in lab samples to be a net positive in the context of expected higher-grade assays,” DLC managing director Malcolm Day says.
“Our initial exploration has confirmed the company’s view that the REX Project is prospective for higher-grade uranium mineralisation in what is an extremely buoyant uranium market.”