Here’s your top ASX small cap resources winners in morning trade Friday, January 8.

It’s Friday and the ASX announcement cupboard is bare. Who do investors hurl money at when there’s no news?

These guys.

 

COPPERMOLY (ASX:COY)

This looks like a repeat of some September trading action which saw the small cap stock jump +400 per cent for no apparent reason.

This PNG focused copper-gold explorer has not done a whole lot of actual exploring lately.

Back in October, Coppermoly deferred all planned exploration — including a drill program at the flagship Mt Nakru prospect — due to COVID restrictions.

Mt Nakru has an existing resource of 309,000t of copper and 300,000oz of gold.

 

CANTERBURY RESOURCES (ASX:CBY)

Like Coppermoly, Canterbury has big copper-gold projects in PNG.

The ~$10m market cap company has an impressive maiden resource of 3.2 million ounces of gold and 762,000t of copper at its Idzan Creek and Wamum Creek projects.

A scoping study – an early look at whether a project is profitable to develop – on a standalone operation is planned during 2021.

 

HELIX RESOURCES (ASX:HLX)

The copper-gold stock spiked hard in early trade before going into a pause. Is it a speeding ticket? An announcement?

Ok, it’s a price query.

Helix’s main game is the early stage Rochford Copper Trend which covers 12km of strike near Manuka Resources’ (ASX:MKR) high grade +420,000oz Mount Boppy gold mine.

Initial results from early stage geophysical and geochemical ‘scout’ programs on the Rochford Trend have been very encouraging, Helix exec chairman Peter Lester said last month.

“We are also buoyed by the regionally significant greenfield discoveries of both Aurelia (Federation) and Aeris (Anomaly K/Constellation) recently in the district,” he says.

“The 12km long Rochford Trend is book-ended by gold and base-metal deposits and has seen little or no modern exploration prior to Helix identifying its prospectivity in late 2019.”

 

COBALT BLUE (ASX:COB)

The cobalt price is due a big kick.

It’s stocks like Cobalt Blue, one of the last remaining pure play cobalt explorers on the ASX, who will benefit the most from improved sentiment and demand.

COB is planning pilot plant cobalt production for Q1 this year. A pilot plant is smaller version of the real thing, designed to test whether the process works in the real world.

COB says it is currently working with 15 global partners who have expressed interest in receiving cobalt samples, including big players like LG International, Mitsubishi Corporation and Sojitz Corporation.

 

TIGERS REALM COAL (ASX: TIG)

China has decided to pay ~$US100/t above standard coking coal prices to avoid Aussie product.

“That’ll show them,” Xi Jinping says, as an acute coal shortage forces the worlds’ #2 economy to ration electricity to millions of city residents. In winter.

And there’s still a bunch of ASX stocks set to benefit from the higher prices paid by Chinese coal buyers for overseas coking coal.

That includes Tigers Realm Coal, which is expanding its Russian coal operation that ships from the Pacific port of Beringovsky to customers in China, Japan and Korea.