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Resources Top 5: Who copped a speeding ticket this morning?
Mining
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Here’s your top ASX small cap resources stocks in morning trade Friday, September 18.
Shares in Ironbark Zinc (ASX:IBG) are trading again after the aspiring miner released a “clarifying announcement” regarding a recent ore reserve and mine plan optimisation for the Citronen project in Greenland.
Which investors obviously liked a lot.
The stock, which wants to make a final investment decision on the project in 2021, is now up ~27 per cent over the past week.
Minnow Surefire Resources (ASX:SRN) has raised $1.28m at a 10 per cent premium to the 10-day volume weighted average price (VWAP).
The additional funds will allow Surefire to expand exploration and drilling activities on the recently acquired gold projects in WA.
Up on no news:
The ASX is handing out speeding tickets like Tic Tacs this morning.
Sleepy PNG nickel-cobalt stock Resource Mining Corporation (ASX:RMI) shot up 113 per cent before trading was paused “pending a further announcement”.
Brazilian gold play BBX Minerals (ASX:BBX) also went in a trading halt after an unexplained early spike, as well as shell company Riedel Resources (ASX:RIE) – which said it was reviewing “high potential prospective projects” way back in July.
Also up on no news was FYI Resources (ASX:FYI), one of just three ASX stocks ready to take advantage of an impending high purity alumina (HPA) boom.
There’s up to ~5kg of HPA in every electric vehicle, which means this niche market could get a rocket from the massive amounts of post-COVID-19 stimulus being poured into the nascent EV sector.
