Resources Top 5: Nickel’sback, titanium is strong, and of course, lithium
Here are the biggest small cap resources winners in early trade, Wednesday June 14.
G88’s golden goose Quicksilver is sending investors into a frenzy today after discovering the highest-ever nickel grades from exploration at the project near Lake Grace, WA.
The intercepts of up to 4.14% nickel and 0.421% cobalt within a broader interval of 28m at 2.34% nickel and 0.109% cobalt from a down-hole depth of 32m, which is itself within a very wide intercept of 49m at 1.74% nickel from 30m in hole 23QDD008, sent shares in the company soaring 112.5% to 5.1c this morning.
Other notable results from the PQ diamond drilling for the Stage 3 metallurgical testwork for the Quicksilver project are 61m at 0.61% nickel from 20m including 1m at 1.22% nickel from 77m (23QDD006) and 47m at 0.74% nickel from 18m including 3m at 1.15% nickel from 54m (23QDD002).
The explorer is now mulling over direct shipping options for some early cashflow as it moves into a Phase 2 drilling program to target deeper nickel mineralisation.
G88’s market cap sits at $16.7m, and by the time this Stockhead finished this sentence, the share price is sitting pretty at a lofty 87.5%.
It looks like investors have cottoned on to just how big of a deal IPX made yesterday when it announced penning an agreement to supply its 100% recycled titanium to automaker giant Ford.
This one’s been in the mix for a while, with the two companies collaborating to design, test and manufacture components for Ford’s future vehicles.
A boon for Ford too – as it recently joined the First Movers Coalition initiative that harnesses purchasing power from a swathe of global brands including Volvo, Airbus, Apple, Amazon and Microsoft, designed to up demand in necessary scale-up critical emerging technologies essential to our transition to net-zero emissions.
IPX said its partnership with Ford was another step in the right direction for the company, and the planet.
“Ford has a commitment to achieve carbon neutrality by 2050,’ IperionX CEO Anastasios Arima said.
“We are proud to partner with Ford to accelerate the deployment of a sustainable, circular titanium supply chain for the global automotive market.
“Our low-carbon titanium metal is uniquely made with 100% recycled titanium and can significantly improve automotive supply chains by using high-strength titanium components with nearly half the weight of steel.”
Shares in IPX skyrocketed 70% on open today and are still buoyant at a 50% rise in early trading. Its market cap is currently ~$275m.
REC is turning into a market darling of late with its foray into lithium hotbed James Bay making waves once again.
The explorer has again expanded its footprint into the region by snapping up the Wapistan project, 120km north of its flagship Express interest.
The 107km2 Wapistan lithium project takes the company’s total James Bay footprint up over 180km2, and is a stone’s throw from Q2 Metals’ Mia lithium project where outcropping lithium has been confirmed at two prospects as well as at Ophir Gold’s Radis project.
Importantly, it overlies 30km of the same greenstone belts which host lithium mineralisation at Mia and Radis.
More broadly, the James Bay region has seen a remarkable amount of attention with fellow Australian Discovery Alaska picking up three early-stage projects, one (Mia Adjacent) of which is located close to Wapistan.
While no lithium targeting or exploration has been carried out at Wapistan, the sheer volume of nearology is reason enough for the company to be keen to get to grips with its new project.
“The Wapistan Lithium Project presents Recharge with a fantastic opportunity to acquire a ‘belt-scale’ project within the James Bay area,” REC MD Felicity Repacholi-Muir said.
“The easy access to Wapistan, its proximity to other highly successful projects, and having geological teams available nearby that can start quickly, make this an obvious opportunity to create value for Recharge’s investors.
“The company plans to be active throughout the summer field season at both Wapistan and Express once conditions permit, and we look forward to revealing the potential we see at both projects as findings warrant.”
REC has a market cap of $22.7m, and shares today are up 20% to 24c per share.
(Up on no news)
ARN kicked off drilling at its Narndee nickel-PGE project in WA last week with a four-hole diamond drill program, and that 8 June announcement sent shares up 16.6%, and they’re still pushing higher.
The budding nickel miner is focusing on new drilling targets for chargeability highs after completing its IP survey recently at the project.
Perhaps investors are more excited about rare earths, on the back of ARN’s recent acquisition of an 85% interest in the Kameelburg heavy rare earth carbonite project in Namibia.
Either way, shares have risen 27% so far in trade today to 14c, and ARN’s market cap is pushing towards $15m.
Back with nickel and ERW is again climbing today, after a 49% rise yesterday, and us Stockheads think it might have something to do with MinRes’s foray into Marquee Resources’ (ASX:MQR) Andover projects in the West Pilbara.
Its own Andover West project is targeting near-surface copper-nickel-iron fertility mineralisations, with recent drilling producing intersections of 0.1% (1,000ppm) Cu and as high as 0.35% (3,500ppm) Cu.
Nickel assays reported multiple intercepts in the 500-1,000ppm range associated with the copper mineralised intervals.
The company is currently conducting high powered EM surveys at the project at an additional five targets.
“We were encouraged by the results of our recent drill program which focused on testing three shallow conductor targets and resulting in the identification of a fertile Cu-Ni mineral system,” ERW chairman Thomas Redcliffe said.
“The results have demonstrated that we are in prospective Ni-Cu terrain, so we have turned our sights to deeper targets using a higher-powered EM system.
“We continue to be optimistic given the nearby success that Azure Minerals has had at Ridgeline and the depths at which it was discovered.
“We also have some other exciting prospects for lithium and graphite and will continue to work on these in the coming quarter.”
With a market cap of just over $9m, shares have again performed well today, up 25% to 15c per share, rising from a low of 6.7c this time last month.
While Golden Mile Resources, Recharge Metals and IperionX are Stockhead advertisers, they did not sponsor this article.