Resources Top 5: Investors load up on fresh goldies, vanadium battery hopeful
Here’s your top small cap resources winners in morning trade Wednesday, September 16.
Looking to light a rocket under that share price, small cap explorers? Just buy a gold project.
Coal/renewable energy minnow Pacific American (ASX:PAK) is dipping a toe into WA gold exploration, while former cobalt high flyer Celsius Resources (ASX:CLA) is buying a suite of copper-gold projects in the Philippines.
These stocks are up +30 per cent and +40 per cent, respectively, in early trade.
And shell company Metallica Minerals (ASX:MLM) was up +15 per cent after yesterday mentioning it was “continuing to review several opportunities in the gold/precious metals-copper and other mineral commodity sectors”.
WA mine developer Australian Vanadium (ASX:AVL) has been busy, inking its second offtake and reseller deal with an overseas vanadium redox flow battery (VRFB) manufacturer in as many weeks.
The MOU with Chinese battery maker CEC VRFB Co follows a similar looking deal with global company Enerox, announced on September 9.
An MOU or “Memorandum of Understanding” is a non-binding agreement that generally comes before a legally binding document.
On top of an initial 2,000 tonnes of V2O5 a year offtake deal, CEC and AVL aim to refine a residential and small business VRFB for the Australian market for release in 2021.