Resources Top 5: These small cap stocks are the gold standard in morning trade
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Here’s your top ASX small cap resources winners in morning trade Friday, February 12.
Drilling has uncovered high grade gold — like 1m at 28.2g/t and 9m at 9g/t — at the old Maori Queen and Sirdar mines, part of the Mt Cattlin project in Southern WA.
Drilling is still underway at Mt Cattlin, with former battery metals play Traka awaiting assay results from other completed drilling.
There’s been no gold exploration at Mt Cattlin since Traka last explored in 2004, following work by a few other parties in the 1980s and 1990s.
“The Mt Cattlin gold project represents an excellent opportunity for the discovery of gold resources at a time when gold prices are more than four times higher than existed when Traka last explored this project area,” the company says.
“There are several large, mineralised shear zones with known high-grade gold shoots within them as well as stockwork quartz-veined intrusive related gold in several positions.”
(Up on no news)
This small, very tightly held WA gold-iron or explorer bolted out of the gates in early trade.
Accent “continues to assess investment opportunities and projects for acquisition or development” in conjunction with majority Chinese shareholders Rich Mark Development Group (+67 per cent) and Xingang Resources (21 per cent).
(Someone called ‘Grandmaster Fortune’ also holds a +4 per cent stake in the company. Outstanding name.)
(Up on no news)
This week aspiring fertiliser miner Minbos noted recent sharp increases in global phosphate fertiliser prices.
It also announced plans to adopt the global standard for Environmental, Social and Governance (ESG) reporting.
Good ESG makes good financial sense.
Global sustainable investment now tops $30 trillion: up 68 per cent since 2014 and tenfold since 2004, the company says.
The stock is up +31 per cent over the past two days.
Ravenswood West sits along a major fault that links the Pajingo (4 million ounces) and Ravenswood (9.8 million ounces) gold deposits.
The project contains numerous historic gold workings, Sunshine says.
“Ravenswood West ticks all of our acquisition drivers; near surface, historic goldfield, big system potential, under explored and close to infrastructure and mining hub workforces,” managing director Damien Keys says.
“With this acquisition we take a significant, under-explored landholding in a district that has produced over 20 million ounces.
“Given the strength of rock chip, soil and stream sediment anomalism, we are excited about the potential for a significant discovery.”
(Up on no news)
Southern Africa is experiencing a major energy crisis, which is “driving strong interest “ in the low‐cost baseload power that can be delivered by African Energy’s coal powered Sese project, the company says.
The Sese JV (African Energy 33 per cent) is now talking with prospective financing and construction partners, the company says.
African Energy also has some early stage exploration ground in WA prospective for big copper-gold porphyry deposits and a significant holding in copper play Caravel Minerals (ASX:CVV).