Resources Top 5: It’s boom time for ASX iron ore juniors
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Here’s your top ASX small cap resources winners in morning trade Friday, December 4.
Since Chalice Gold Mines (ASX:CHN) uncovered the company-making Julimar discovery in March this year, a tsunami of small caps have flooded the surrounding region near Perth.
Yesterday, Anson Resources (ASX:ASN) got no love from investors when it announced that early exploration was kicking off at the ‘Bull’ nickel-copper PGE project near Julimar.
This morning the stock spiked +35 per cent on no news. Go figure.
Copper-gold focused Duke Exploration (ASX:DEX) is up 68 per cent since listing on the ASX last month.
Earlier this week it told investors that all five holes in a first phase drilling program at the historic Mt Flora mine intersected copper “in stacked mineralised zones” from surface to at 230m.
Iron ore spot market prices hit $US137 per tonne Thursday – its highest since December 2013.
In Aussie dollar terms, prices for iron ore are at all-time highs, and local miners and small caps are charging.
Yesterday, Fenix Resources (ASX:FEX) pulled away from the ASX pack after it secured Geraldton port access for its small, high grade Iron Ridge project, which aims to start production this month.
Fellow Mid-West iron ore hopeful GWR Group (ASX:GWR) also recently secured port access at Geraldton.
First shipment from its Wiluna West iron ore project is due mid-January.
Fenix and GWR are up ~140 per cent and ~210 per cent respectively over the past six months.
Then there’s minnow Fe Limited (ASX:FEL) which recently acquired ~50 per cent of the advanced ‘JWD’ deposit from GWR Group.
The company – which is up ~15 per cent in morning trade — is also looking to eventually export from Geraldton port.