Resources Top 5: Has this explorer revived its fortunes with green hydrogen?
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Here are your top ASX small cap resources winners in morning trade Wednesday, February 17.
Previous iterations as a furniture assembly business (AssembleBay) and vanadium explorer (ScandiVanadium) did not get investors’ pulses racing, but it looks like Province has turned the corner.
The minnow has just acquired the Gascoyne and HyEnergy projects in WA’s north-west — a veritable ‘grab bag’ of commodity opportunities.
The initial focus will be on renewable green hydrogen, as well as industrial minerals like salt, sulphate of potash (SOP) and mineral sands, the company says.
“Green hydrogen will be an increasingly important future energy source, developing alongside the lithium industry,” says project advisor Gavin Rezos.
“Rapid advances in hydrogen fuel cells are now demonstrating that green hydrogen will have a major role to play in the areas of mass transport, shipping, trucking, and eventually in homes, helping the world reach targets of being net zero carbon by 2050.”
Another reskinned company is having early successes.
Formerly European Cobalt, Aston’s new main game is the Edleston gold project in Canada.
Yesterday, the company announced a maiden 5000m drilling program to test some juicy targets, where previous intersections include 5.3m at 81g/t gold.
(Up on no news)
The minnow is about to start mining its Ardmore phosphate project in Queensland, where a tender was awarded in January for an initial phase of mining for 25,000t of rock.
Good timing, it seems. A shortage of phosphate fertilisers has driven the price up across the country in only the past two weeks.
Independent fertiliser trader and semi-retired farmer Leighton Huxtable called it ‘the worst fertiliser shortage he had seen in his lifetime’, according to the ABC.
Lodestar released a whole bunch of news today – an acquisition, a cap raise, and some drilling results.
Lodestars plans to acquire private company ‘Goldfellas’, which owns 20 per cent of the historic high grade Nepean nickel project.
Lodestar will also raise $1.3m at a slight premium to its current share price.
Meanwhile, drilling at Lodestar’s free-carried (they don’t pay exploration costs) Ned Creek gold JV with Vango Mining (ASX:VAN) has hit extensions to a previously reported intersection of 4m at 78g/t gold. Big news day.
(up on no news)
Earlier this week, the iron ore hopeful signed a deal to hopefully commercialise its Mariposa project in Chile.
Under the contract, Chinese company Hainan will fully fund mining and construction at Mariposa “with all capital contributions, security, legal costs, risks and potential losses borne by Hainan solely”.
The deal covers the first 2 million tonnes of iron ore.
Admiralty will get a ‘laddered’ royalty rate up to 7 per cent per tonne of iron ore produced if the price stays above US90/t.