• Estrella adds $11m to coffers for exploration at Carr-Boyd nickel discovery
  • Uranium play Bannerman now up 450% over the past 12 months
  • Resource Mining (nickel), Odyssey Gold (gold), Red Hill Iron (iron ore) surge on no news

Here are the biggest small cap resources winners in early trade, Wednesday June 2.



(Up on no news)

This low profile tiddler has exploration assets in PNG and, since February this year, a nickel project in Tanzania called ‘Kabulwanyele’.

Kabulwanyele spreads RMI’s risk profile from reliance on PNG, where a resurgent COVID-19 encouraged RMI to pause work programs.

Maiden exploration at Kabulwanyele kicked off in April.

~$7m market cap RMI is up 140% over the past year.



Last week the #5 best performing resources stock of 2020 was in the news with more sulphide rich drill-core  from its ‘T5’ target at the  Carr-Boyd nickel discovery near Kalgoorlie.

Now it has entered into a deal with advisory firm Henslow, who will fully underwrite the exercise of 5c listed options worth over $11 million.

Henslow has received commitments from institutional and sophisticated investors to take up these unexercised options, Estrella says.

“The funds obtained from the full underwriting of the Options will be sufficient for the company’s current planned exploration activities for at least the next 12 months without any further requirement for capital,” it says.

$64m market cap Estrella has officially bounced off recent lows, up ~30% over the past five days.



(Up on no news)

As most informed commentators will tell you, the only way of reaching the 2030 renewable energy targets is to build more uranium reactors.

Bannerman’s Etango-8 project in Namibia  has been ‘reimagined’ as smaller scale mine initially, but with the ability to ramp up production as demand improves.

In February, it raised $12m to complete the Pre-Feasibility Study (PFS) at the Etango-8 Project in the June quarter, undertake and complete a Definitive Feasibility Study (DFS), and continue product marketing.

The ~$260m market cap stock is now up 450% over the past year.



( Up on no news)

Red Hill has a 40% interest in the Red Hill joint venture project in WA’s West Pilbara region in partnership with Aquila Steel, part of China’s Baosteel Group.

In late April Red Hill said it was confident “that a viable way forward, based on a stand-alone project, can be determined in the near term”.

Red Hill is also reviewing its wholly owned Pannawonica iron ore project to determine whether it could be brought into production.

“This new review has been prompted by the recent much improved market conditions for iron ore fines and the recognition that both the Redgate and Whitegate deposits contain higher grade components of similar grade characteristics to other Pilbara deposits currently being mined,” the company says.

The $60m market cap stock is now up ~470% over the past year.



(Up on no news)

Odyssey want to supercharge exploration with a recently announced $15m raise.

Proceeds will be used to accelerate work at the ‘Tuckanarra’ and ‘Stakewell’ gold projects, including further exploration drilling, resource development drilling, and technical and metallurgical studies.

“We are pleased with the strong support received for this Placement from existing and new investors,” exec director Matt Syme says.

“It reflects the exciting exploration potential of our two outstanding gold projects in the Murchison Goldfields.”

The $70m market cap stock is up ~130% year to date.