Here’s your top ASX small cap resources winners in morning trade Thursday, December 10.


SI6 Metals (ASX:SI6) received a speeding ticket from the ASX yesterday, after stock ran up on high volumes between December 4-7 on no news.

It is up another +40 per cent in morning trade Thursday, for a total five-day gain of +200 per cent.

SI6 is not aware of any other explanation for the recent trading in its securities, it said yesterday.

However, there are a few things going on in the background.

One: A 500m deep drill hole is underway at the Maibele North nickel-copper-PGE project in Botswana. The company says the target sits in similar rocks to other major nickel discoveries like Nova-Bollinger and Julimar.

Two: It has the option to buy an early stage gold project in WA called Monument, which is interesting because it is nestled between recently announced merger partners Dacian Gold (ASX:DCN) and NTM Gold (ASX:NTM).

Three: It just raised $2m at a premium to the 20-day volume weighted average price (VWAP).

And four: The outlook for industrial metals, like nickel and copper, is positive. The price of nickel metal has advanced circa 50 per cent since March lows, it says, while copper prices are now at multi-year highs.


Toro Energy (ASX:TOE) is still basking in the glow of yesterday’s nickel discovery announcement.

Toro confirms that high grade nickel sulphides were hit during October drilling at the Dusty discovery, part of the Yandal gold project in WA.

Average nickel grades are also better than expected, it says.

The entire 9m sulphide zone has an average nickel grade of 2.07 per cent nickel and cumulatively, the 4.5m of massive nickel sulphides grade at 3.91 per cent nickel, 0.34 per cent copper, 0.13 per cent cobalt and 0.45 g/t platinum and palladium.

And it looks like these grades increase with depth.


Also still running from yesterday is fresh WA goldie Aurumin (ASX:AUN) which hit the bourse with a 50 per cent gain on its first day.

That momentum has continued into day two, with the stock now up ~85 per cent on its listing price of 20c per share.


Explorer Viking Mines (ASX:VKA) was recently featured in our ‘Struggling sub $5m market cap stocks which could multi-bag’ series.

The stock is up almost 200 per cent since that article, and 65 per cent since announcing plans to buy the historic, high grade First Hit gold project in late November.

The 90-year-old First Hit mine last operated between 2001-2002, producing 30,830oz at grades of about 13g/t.


Flinders Mines (ASX:FMS) is now up 100 per cent since the start of the month.

In September, the iron ore hopeful  finalised a joint venture to develop its massive flagship Pilbara Iron Ore Project (PIOP) in WA.

The deal with BBIG means Flinders ostensibly won’t have to pay anything right up until production to retain a 40 per cent interest in the project.