Resources Top 5: Investors anticipate big results from this small nickel-copper explorer
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Here’s your top ASX small cap resources winners in morning trade Wednesday, December 30.
Assay results from a maiden drill program at McKenzie Springs nickel-copper-PGE project in WA are still pending.
Results will be released to market as soon as possible, the explorer said on December 11. Which probably means pretty soon.
The stock is up a respectable +40 per cent since it featured in Stockhead’s ‘forgotten resources stocks that could conceivably be the next multi-bagger’ series in October.
Another IPO leaps out the gate in a first day frenzy.
BPM was created to acquire three WA gold and nickel projects.
BPM’s Nepean project is less than 4km from the historical Nepean nickel sulphide deposit – recently acquired by Auroch Minerals (ASX:AOU) – which produced 32,202t of nickel metal between 1970 and 1987 at an average recovered grade of 2.99 per cent.
Claw is immediately south of the Mount Gibson gold mine, which produced almost 1 million ounces from a number of shallow open pits between 1986 and 1999.
Another +950,000oz was left in the ground.
BPM’s ground covers the interpreted southern extension of the Mount Gibson fault, which is believed to control the primary gold mineralisation at Mount Gibson.
When lithium explorer AVZ spiked in 2017/ 2018 it was pure investor speculation, a play on the hype surrounding the emerging — but still relatively non-existent – electric vehicle sector thematic.
At 16c per share, the stock is now at its highest point since May 2018.
The Victorian based magnesium project developer makes consecutive appearances in Resources Top 5 on no news.
LMG expects to start construction of 3,000tpa pilot plant (a smaller version of the real thing) in March 2021 and be in production by Q2 2022.
The company says magnesium demand is about to fly, partially due to its increased use in cars and batteries.
Fertilizer play Kore has no idea why the stock is jumping around like a bull in a china shop.
But it can’t complain: the share price is currently up +60 per cent in the past month.
The ~$10m market cap, Congo based potash play is aiming to finalise Phase 1 of its project Definitive Feasibility Study (the most detailed of all the studies) in May next year.