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Mining
Here are the biggest small cap resources winners in early trade, Tuesday August 10.
(Up on no news)
The VanEck Vectors Rare Earth/Strategic Metals ETF – which tracks the performance of companies involved in producing, refining, and recycling rare earth and strategic metals and minerals — punched through 7-year highs overnight:
Is there opportunity for rare earths stocks to go on a lithium-like run?
Earlier this month, ARR said its flagship ‘La Paz’ project could be “one of the largest rare earths projects in North America” on announcing a 117% boost to indicated resources.
“The company has seen a significant upgrade in both the quality and quantity of the JORC resources at La Paz,” ARR says.
“The report’s findings confirm that La Paz is an environmentally sustainable resource with low uranium and thorium grades, compared to most other projects in the market.
“This announcement supports the development of the US domestic rare earths supply chain and highlights the strategic value of our assets to the US Government as it identifies risks in the supply chain for critical minerals including rare earth elements.”
$46m market cap ARR is up ~56% year-to-date.
Drilling continues to expand the explorer’s ‘Tesorito South’ porphyry discovery.
Porphyries deposits are huge, responsible for ~60 per cent of the world’s copper, most of its molybdenum, and significant amounts of gold and silver.
Their easy-mining large volumes make up for the low grades, typically between 0.3 per cent to 1 per cent copper equivalent.
Los Cerros has intercepted new, broad zones of gold in drill hole TS-DH27 at Tesorito South, including:
▪ 36m @ 1.01g/t Au from 116m; and
▪ 72m @ 1g/t Au from 188m, including 6m @ 2.05g/t gold from 254m.
A fourth diamond drill rig has been secured to accelerate drilling, the company says.
(Up on no news)
It may be on the nose, but thermal coal has been one of the year’s best performing commodities.
This creates plenty of opportunities for miners and their investors.
High #energy Australia #coal up 86% in 2021 to +$150/t, highlighting difficulty for governments in switch to #renewables such as #wind and #solar, which are struggling to keep pace with rising demand for #electricity, leaving #fossilfuels to fill the gap. (Courtesy of Neil Hume) pic.twitter.com/SM5uwaKFb2
— Gavin Wendt (@MineLifeReport) August 6, 2021
Small South African coal producer Ikwezi recently confirmed that prices for thermal continue to increase.
“The API4 forward curve is currently trading at approximately over $US120 per ton for July 2021 and predicts an average selling price of $US115 for the next 12 months,” it said on July 30.
The company – which has just $214,000 in the bank — aims to ramp up its throughput to 75,000 tonnes a month in the September quarter.
(Up on no news)
GL1’s main game is the ~240sqkm Marble Bar lithium project (MBLP) in WA’s Pilbara, a region which also hosts Pilbara Minerals’ (ASX:PLS) Pilgangoora operation and the Albemarle and Mineral Resources’ (ASX:MIN) Wodgina joint venture.
The company is drilling to find the edges of the 10.5 million tonne ‘Archer’ deposit, a swarm of spodumene-bearing pegmatites over a 3km by 1km zone which remains ‘open’ in all directions.
It also has some notable gold exposure, with recent drilling at the ‘Twin Veins’ prospect in the Pilbara pulling up 12m at 2.95g/t.
The $32m market cap stock is up 42% over the past month.
(Up on no news)
The recently listed African iron ore play is ramping up resource growth and infill drilling within the 85km of mineralised strike at ‘Baniaka’, its flagship project in Gabon.
The stock is well funded with about $25m in the bank.
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