Resources Top 5: Possible project acquisitions and more GME confusion

• Are punters confusing ASX listed minnow GME Resources with ultimate meme stock GameStop (NYSE:GME)?
• Silver project developer Investigator aims to complete PFS by mid 2021
• Province eyes potential aquisitions

Here’s your top ASX small cap resources winners in morning trade Friday, January 29.

GME Resources

(up on no news)

Are punters confusing ASX listed minnow GME Resources with ultimate meme stock GameStop (NYSE:GME)?

The battle over US stock GameStop is a beachhead in an unprecedented fight between rich instos and the disgruntled retail class. It’s a powerful narrative and, so far, retail is winning.

GME Resources is also winning.

The small exploration stock jumped another +50 per cent in early trade – bringing its total 4 day gain to just under 100 per cent — before entering a trading halt.

Is this dumb money or ‘IDGAF this is fun’ money? At this point it feels like punters are doing this on purpose, but it’s fun to watch either way.

Some exposure on Sydney Morning Herald never goes astray either.

INVESTIGATOR RESOURCES (ASX:IVR)

The silver project developer is flying.

A quarterly recap shows the company completed ~25,000m of drilling into its flagship Paris project in South Australia.

It raised ~$7m and now has about $13m in the bank.

Next stop: completing a project pre feasibility study (PFS) – a look at whether a project is economic to build — in June 2021.

SILVER CITY MINERALS (ASX:SCI)

(up on no news)

They might not be another version of GME Resources, but plenty of other mining small caps posted solid gains on no news in morning trade.

SCI is a sleepy early stage explorer has gold-copper ground in WA and NSW, but “continues to evaluate further opportunities for precious and base metals within Australia”.

The stock is currently up ~150 per cent over the past 12 months.

IRONBARK ZINC (ASX:IBG)

(up on no news)

Ironbark’s Citronen project in Greenland is at the pointy end of the development cycle.

It recently received the last of its permits – the culmination of a long, 9 year process.

This is important on several levels, IBG Managing Director Michael Jardine says.

“It removes the final permitting based impediment to an investment decision in 2021, with only the post FID Section 86 approval yet to be granted,” he says.

“It will greatly assist with the Project Financing challenge as our partners at EXIM Bank, along with most commercial debt providers, typically do not take permitting risk on projects.”

“And finally, it puts further distance between Ironbark and its in-country peers with respect to establishing Greenland’s first large scale mining operation.”

PROVINCE RESOURCES (ASX:PRL)

(up on no news)

Province is hoping to revive its fortunes. Previous iterations as a furniture assembly business (AssembleBay) and vanadium explorer (ScandiVanadium) did not get investors’ pulses racing.

Province currently has gold-nickel ground in the Paterson Province and the Fraser Range regions of WA.

In its most recent quarterly report, the company mentions that “multiple potential new projects” were being reviewed.

With ~$4m cash in the bank the explorer is in a good position to pick up something decent.