Resources Top 5: This Brazilian gold stock is turning heads today
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Here’s your top small cap resources winners in morning trade Thursday, September 17.
Finding the money to build Big River Gold’s (ASX:BRV) 2.43moz Borborema Gold project in Brazil has been tough in a post-pandemic world.
Big River says the response from potential financiers within Brazil has been slow, largely due to the instability of the financial markets and impacts of COVID-19.
Consequently, the company is “widening its search”, engaging precious metals merchant and advisory firm Auramet to assist with securing the debt funding component.
In anticipation of securing project funding and to “continue development momentum”, Big River has also sought expressions of interest from EPCM contractors to build the project.
Construction teams will mobilise to site in early 2021 when COVID-19 restrictions are sufficiently relaxed, it says.
The share price – which has ranged between 1.3c and 7.8c over the last year – was up 30 per cent to 6.5c in early trade.
Euromanganese (ASX:EMN) wants to produce high-purity manganese – used in lithium-ion battery cathodes – from its Chvaletice project in the Czech Republic.
Nickel explorer Buxton Resources (ASX:BUX) and its deep pocketed joint venture partner IGO (ASX:IGO) started drilling a new target at the high grade ‘Merlin’ project in late August. Those results should be just about due.
Advanced lithium play Lake Resources (ASX:LKE) rounds out the top 5.
A strong ~65 per cent gain over the past 6 months – helped along by partnerships with Bill Gates-backed Lilac Solutions and high-flying battery company Novonix (ASX:NVX) — means this stock is pretty close to erasing any COVID-caused losses.