Resources Top 5: The advanced silver, uranium project developers taking the podium today
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Here are the biggest small cap resources winners in early trade, Thursday July 29.
(Up on no news)
Investigator is on track to deliver a pre-feasibility study on the 53 million ounce ‘Paris’ silver project in September this year.
It also has a JV with DGO Gold over the ‘Whittata’ copper project in the Stuart Shelf of South Australia, where DGO plans to embark on a 90 hole program in the second half of the year.
DGO can spend up to $6.36m over five years on Investigator’s Stuart Shelf tenements to earn an 80% interest.
The uranium project developer is now debt free after paying major shareholder Sentient back $15.6m in a mix of cash and shares.
“This strengthens the Company’s balance sheet significantly and positions the Company well to maximise shareholder value from its current and planned exploration, evaluation and development activities,” Executive Chairman, Richard Homsany says.
“We sincerely thank Sentient, which remains the company’s largest shareholder, for their continued support of the Company over a long period of time.”
Toro’s flagship ‘Wiluna’ uranium project is one of WA’s only advanced uranium projects with environmental approval from the state and federal governments.
Silica sand – cooler than you think.
Carbine has estimated a maiden exploration target of up 1400 million tonnes at a high average grade of 99.6% to 99.9% silica at the ‘Muchea West’ project in WA.
“Preliminary test work completed on samples from the Muchea West project have also indicated that the grade of the in situ silica sand is sufficient to meet the requirements for Float and Container glass market,” the company says.
“Further, test work indicates that this unusually high grade, following a simple processing route, can result in a number of products at the premium end of the Silica Glass Market, including the ultra-clear, high tech glass market.”
(Up on no news)
Balkan, recently spun out of Jadar Resources (ASX:JDR), is focused on the ‘Rekovac’ lithium project in the little-known jurisdiction of Serbia.
The project “has similar geological settings” to Rio Tinto’s world-class Jadar discovery, the company says.
The stock is currently selling for ~ 46c – a 130% gain on its IPO price of 20c per share – making one of July’s best performing Iistings.
A potential discovery?
$11m market cap Maximus has clawed back some of its heavy 2021 losses after identifying a strong nickel conductor at ‘Hilditch West’ , 25km from BHP Kambalda Nickel Concentrator.
The geophysics survey follows a maiden RC drill program which intersected several “encouraging” shallow nickel-copper-cobalt intersections like 5m @ 1.2% nickel, 0.23% coper, 0.08% cobalt from 43m.
Strong magnetic responses like this within ultramafic sequences can host Kambalda-style nickel-sulphide deposits, the company says.
“The ground-based EM survey has confirmed a strong, shallow, late-time conductor and coincidental magnetic high,” Maximus managing director Tim Wither says.
“Possessing these key signatures of magnetic high and strong late-time EM conductor, in an area of proven nickel sulphide mineralisation, is an ideal setting for a Kambalda-style nickel sulphide discovery.”
“Hilditch West is an exciting target in Maximus’ evolving nickel exploration program, and we are looking forward to commencing a diamond drill program at Hilditch West later this quarter.”