Pic: Getty.
Mining
Here are the biggest small cap resources winners in early trade, Tuesday June 29.
(Up on no news)
Carpentaria is +350% since finalising a deal to buy Pure Metal’s 24% share of the Hawsons Iron Project in NSW for 90 million shares.
Carpentaria executive chairman Bryan Granzien says the deal will clear the path of obstacles that have held up Carpentaria’s efforts to realise Hawson’s full value.
A BFS on the ~$1.4 billion capex project is due to kick off this year, with the company aiming for first production in Q3 2024.
(Up on no news)
Last week the explorer hit visible gold, including 1m at 47.05g/t gold from drilling at its ‘First Hit’ mine in WA’s Eastern Goldfields:
These were the first diamond holes to be drilled at the historical mine in nearly 20 years.
Assays are pending for another eight holes.
(Up on no news)
The company has returned thick, high grade results – like 8m at 2.8% nickel – from drilling at its ‘Jejevo’ nickel DSO (direct shipping ore) project in the Solomon Islands.
All 26 holes hit nickel laterite mineralisation, the company says. A JORC resource assessment is now underway.
Nickel laterite ores from DSO operations – a low-cost way to get into production — provide feedstock for nickel pig iron production suitable for Chinese stainless-steel producers, Pacific Nickel Mines says.
Few alternative sources of nickel laterite ore globally exist outside Indonesia (higher jurisdictional risk) and the Philippines (lower grade) to satisfy demand from the domestic Chinese RKEF producers, the company said.
The $12m market cap explorer is up 50% in 2021 so far.
(Up on no news)
The recently listed African iron ore play is due to kick off 2,000m of drilling at the Bandjougoy prospect, part of the ‘Baniaka’ project in Gabon.
“The diamond and infill RC drilling programs have been designed to enable the large Bandjougoy prospect, which currently has no Mineral Resource, to be included in the Baniaka preliminary feasibility study,” managing director Joe Ariti said late May.
The ~$66m market cap stock is still down ~30% since listing early March.
There are targets galore for explorer SI6.
SI6 is hunting for base and precious metals within the ‘Limpopo Mobile Belt’ in Botswana, a district known for hosting major nickel and copper operations.
An ‘IP’ survey – used to identify the electrical chargeability of subsurface materials, like valuable ore – has identified an “exciting” 2.5km-long anomaly at the ‘Airstrip’ prospect in Botswana.
This follows the recent discovery of a prominent 2.5km long anomaly at the nearby ‘Dibete’ prospect.
Follow up drilling programs are now being planned.
Mining
Mining
Mining
Get the latest Stockhead news delivered free to your inbox.
