Pic: John W Banagan / Stone via Getty Images
Resources Top 5: Meme stocks and battery hopefuls beat the market
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- GME Resources up after namesake meme stock Gamestop (NYSE:GME) goes viral
- Hawkstone recovers 90pc lithium in early stage testing
- Kula (gold, nickel), Magnis (battery production), and QX (gold) up on no news
Here are your top ASX small cap resources winners in morning trade Thursday, January 28.
(up on no news)
+15 per cent yesterday and another +40 per cent gain in early trade today: are punters confusing ASX listed minnow GME Resources with ultimate meme stock GameStop (NYSE:GME)?
That would be hilarious.
It could also just be the resurgence in positive battery metals sentiment. GME’s main game is the NiWest nickel-cobalt project, one of the highest grade nickel laterite resources in Australia.
Early stage testing at Hawkstone’s Big Sandy project in the US has recovered 90 per cent lithium from ore. Which is pretty good.
Hawkstone says testwork partner Hazen Research is on track to produce battery-grade Li2CO3 (99.5 per cent lithium carbonate) by the end of February 2021.
The gold-lithium stock has been on a red hot run, up ~440 per cent since the start of the year.
MAGNIS ENERGY TECHNOLOGIES (ASX:MNS)
(up on no news)
The latest lithium-ion stock to get a solid spruik on Twitter, Magnis has ambitions to build an end-to-end supply chain for lithium-ion battery production.
It is currently looking for the cash to build battery plants in New York and Townsville with its project partners.
Last year, Magnis claimed that the Extra Fast Charge (EFC) batteries developed by its tech partner C4V – which achieved +85 per cent change in under six minutes — were a “potential game changer”.
(up on no news)
In 2019, Kula offloaded its share of the Woodlark Island gold project to Geopacific Resources (ASX:GPR).
The minnow then reviewed “11 projects at varying stages of exploration, from grass roots to advanced” before settling on a big chunk of gold-nickel-PGE exploration ground in WA.
The Brunswick nickel-copper-PGE project is south of (and in the same rocks as) Chalice’s (ASX:CHN) world class Julimar discovery.
(up on no news)
Gold-focussed Qx Resources (ASX:QXR) used to be Hipo Resources, a stock touting an experimental Ukrainian battery tech. It failed to deliver the goods.
In July 2020, Qx picked up a 115sqkm project in the Central Queensland goldfields which includes two open pit historical gold mines and “multiple unexplored targets”.
The explorer plans first stage drilling at the flagship Lucky Break resource as a priority in 2021.
