Right here’s your high ASX small cap assets winners in morning commerce Tuesday, December 29.
Submit-Christmas information move is often sparse, and this 12 months isn’t any totally different. At this time’s greatest gainers are up on latest (or no) information.
In December, explorer Santana drilled into ~28m thick gold mineralised zones on the newly acquired Bendigo-Ophir venture in New Zealand.
This drilling was designed to check extensions to the present ~250,000oz useful resource, which Santana reckons may very well be developed right into a bulk tonnage low-cost open pit heap leach operation.
Preliminary gold assays are anticipated in about three weeks and drilling will proceed from mid-January 2021.
The Legacy share worth has been leaping all around the store for weeks on abnormally excessive volumes.
Why? Not likely positive. However with iron ore costs hitting report highs punters may be speculating that the ostensibly gold focused explorer will dust off its Mt Bevan project in WA.
Mt Bevan – moreover a big, low grade magnetite useful resource – features a first rate chunk of Jupiter Mines’ (ASX:JMS) neighbouring excessive grade deposit.
Victoria-based Latrobe Magnesium (ASX:LMG) expects to be a really low price magnesium producer.
LMG expects to start out development of three,000tpa pilot plant (a smaller model of the actual factor) in March 2021 and be in manufacturing by Q2 2022.
The timing is nice – the corporate says magnesium demand is about to fly partially attributable to its elevated use in automobiles and batteries.
Final week, Congo-based AVZ – a former excessive profile darling of the circa 2018’s lithium wave – locked in an offtake settlement with Chinese language lithium big Ganfeng.
AVZ’s still-undeveloped Manano venture will promote 160,000 tonnes per 12 months of spodumene focus – 30 per cent of deliberate manufacturing — to Ganfeng for an preliminary 5 years.
“This … offtake settlement with GFL will vastly help the corporate in assembly any circumstances precedent which might be required for our potential financiers,” AVZ boss Nigel Ferguson says.
“Over the approaching months, I sit up for finalising different offtake agreements that are at present below negotiation, not just for our lithium merchandise but in addition for our tin and tantalum supplies,” AVZ boss Nigel Ferguson says.
The inventory — which peaked at ~34c per share in 2018 – has gained 55 per cent to 14c per share over the previous week.
Final week, Pensana hit excessive grade uncommon earths within the first sampling program at its Coola Challenge, 16km from its flagship Longonjo venture in Angola.
It additionally appointed “completed financial geologist” Grant Hayward as exploration supervisor and accomplished a drilling program at Longonjo.
The inventory is at present up +870 per cent over the previous 12 months.