Resources Top 5: When bailing on a project acquisition isn’t the end of the world
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Here’s your top ASX small cap resources winners in morning trade Friday, October 2.
The share price of graphite-gold explorer Volt Resources (ASX:VRC) has bounced back after it terminated a Zambian gold project acquisition yesterday.
Fellow battery metals play/gold explorer Pursuit Minerals (ASX:PUR) has similarly bounced back from news that a US gold project deal had fallen through.
Former $3m market cap minnow Tao Commodities (ASX:TAO) has continued to rise after inking an option to buy the ‘Titan’ titanium and zircon mineral sands project in the US. The stock is now up 130 per cent since the middle of September.
Former money manager SIV Asset Management — reskinned as gold explorer Ragusa Minerals (ASX:RAS) — is green for the second day in a row.
Ragusa’s ‘Lonely Mine’ gold project in Zimbabwe produced over 1.1 million oz up to 1942, at an average recovered ore grade of 17.5 grams per tonne (g/t). That’s high.
The project area has not had any modern day systematic exploration, the company says.
And why is super quiet iron ore explorer Admiralty Resources (ASX:ADY) making so much noise? The stock is now up +170 per cent since mid-September on no news at all.