Pic: John W Banagan / Stone via Getty Images
Mining
Here’s your top ASX small cap resources winners in morning trade Wednesday, January 6.
(Up on no news)
Alligator is one of a few ASX stocks set to benefit from a predicted uranium boom.
It raised a bit of cash late December to progress its newly acquired Samphire project in South Australia.
“Alligator is very pleased to have secured the funds that will allow a rapid commencement of new and updated work targeting a resource upgrade and expansion, extension target evaluation and updated met testing,” chief exec Greg Hall said last month.
“We believe this will greatly enhance the value of Samphire at a time of an improving uranium market and increased interest in uranium equities, creating opportunity for a potential timely development of the project when market factors align.”
(Up on no news. Again)
For some reason Prairie didn’t get a speeding ticket from the ASX yesterday, despite running up +45 per cent on no news.
The coal stock has started Wednesday on a similar note, up another +30 per cent in early trade before finally going into a halt.
Prairie is seeking legal damages from the Polish Government, which has unfairly blocked the company going into production. Allegedly.
In mid 2020 the company partnered with litigation funder LCM to seek big $$$ from Poland in court. LCM — which pays the initial $18m in litigation costs and only gets money if Prairie wins – has won 87 per cent of its cases since inception.
(Up on no news)
This is one of Peak Asset Management’s top small cap stock picks for 2021.
Sabre has just completed a $4.8m capital raise and this quarter will drill a number of targets right near the iconic Penny West gold mine in WA.
In early 2019, $5m market cap shell company Spectrum Metals (ASX:SPX) bought the super high grade Penny West mine for ~$1m cash. It hit high grade gold outside the old mine envelope almost immediately.
In February 2020, $1.4bn market cap gold miner Ramelius (ASX:RMS) launched a successful off-market takeover bid which valued Spectrum at about $270m. Sabre will be hoping to replicate Spectrum’s success.
(Up on no news. Sort of)
The lithium stock is now up 180 per cent over the past five trading days.
In a recent response an ASX price query Core said its largest shareholder Yahua had signed a binding five-year deal to supply EV maker Tesla with 75,000 tonnes per annum of lithium spodumene concentrate.
Meanwhile, Core says it is the most advanced new Australian lithium developer on the ASX, as lithium prices in China increase from 2020 lows and global EV sales ramp up.
“There are very few advanced Australian lithium projects for investors to build exposure to increasing lithium prices,” it says.
“Core has further advised the market, on an ongoing basis, that the company is receiving interest from new lithium parties for additional binding offtake and customer project finance agreements for the Finniss Lithium Project.”
Yesterday, gold explorer Viking appointed new chief exec Julian Woodcock – a geologist with a proven history of discovering and developing new projects.
In his most recent role as Gold Road Resources (ASX:GOR) exploration manager, Woodcock led a large team to discover new orebodies and prove up resources at the Gruyere gold mine. Previous appointments also include exploration manager for Evolution Mining and Gold Fields Australia.
“I am … excited to lead [Viking] through its exploration and development of the First Hit Gold Mine,” Woodcock says.
“High grade gold projects of this nature which haven’t seen a drill bit in almost 20 years are a rarity and present an excellent opportunity to rapidly test and advance the project for the benefit of the shareholders in this excellent gold climate.”
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