Resources Top 5: Who copped a speeding ticket this morning?
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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.
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.