Resources Top 5: Investors hold gold as rutile beguiles
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Here’s your top small cap resources winners in morning trade Monday, September 21.
Ecuador gold explorer Titan Minerals (ASX:TTM) has won a battle to get the ownership of the high grade 1.28moz Jerusalem gold project reinstated.
Jerusalem’s big, still ‘open’ resource is nestled between Lundin’s 13moz Fruta del Norte mine and Luminex Resources’ 5moz Condor project.
It’s a big bonus for Titan, which is currently focused on expanding resources at the nearby 2.1moz Dynasty project.
Meanwhile, drilling at Sovereign Metals’ (ASX:SVM) high grade Kasiya rutile deposit in Malawi has tripled the mineralised footprint, from ~22sqkm to ~66ksqkm.
“These new drill results show a step-change increase in the potential size of Kasiya and highlight that it could well develop into one of the largest rutile deposits in the world,” Sovereign managing director Dr Julian Stephens says.
The global supply of rutile — the rarest, highest grade and most valuable source of titanium – is currently in structural deficit, the company says.
Sleepy nickel-cobalt stock Resource Mining Corp, which shot up Friday before trading was halted, is up another ~30 per cent in early trade Monday.
CopperMoly was up 107 per cent at the open on no news, a repeat of Friday’s trading action which saw this stock jump +400 per cent.
In late July, the explorer said drilling at its advanced high-grade copper-zinc gold-silver project had been put on ice “indefinitely” due to COVID-19 related restrictions on travel between Australia and PNG.