Today’s 5 biggest resources runners
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Sulphate of Potash (SOP) explorer Trigg Mining (ASX:TMG) reckons it could be sitting on a large, high grade discovery at its Lake Throssell project in WA.
SOP is a premium grade fertiliser ideal for ‘high value’ food crops.
An early stage gravity survey indicates the presence of a significant palaeovalley (ancient riverbed) beneath Lake Throssell “which may contain a large volume of potentially high-grade potassium-rich brine”.
The deepest part of this ancient riverbed – called the ‘thalweg’ — looks to be up to 2km wide in places, the company says.
A maiden aircore drilling program will kick off mid-September.
African mineral sands producer Base Resources (ASX:BSE) will return a maiden 3.5c per share dividend to shareholders following “strong financial results” for FY20.
The company made revenues of $US208m – with price increases mitigating lower production – for a net profit of about $US40m.
Higher average prices were achieved for rutile (18 per cent increase) and ilmenite (30 per cent increase) relative to the prior period, while a more subdued market for zircon persisted (9 per cent decrease).
Up on no news were high-flyin’ iron ore hopeful Magnetite Mines (ASX:MGT), lithium-turned-gold explorer BMG Resources (ASX:BMG), and tin play Stellar Resources (ASX:SRZ) which has been “actively searching for new project opportunities”.