Manic Week In The Minnows
It has been a week to savour for investors in several of the junior market’s resource businesses. Below, we take a look at some of the top-performing companies on Aim this week and explain what is behind their share price surges.
Aim-listed Tertiary Minerals experienced a sharp jolt up on the stock market this week, with its share jumping to its highest level since 2018.
The mineral exploration and development company’s stock jumped more than quadrupled, from 0.18p to 0.77p, after it provided some positive results from a drill test in Nevada on Tuesday.
Shares were brought back down again when the company reported a full-year loss – significantly reduced from 2019 – on Wednesday.
But by Thursday evening, Tertiary’s stock price was resting at 0.36p, still up handsomely from the beginning of the week.
As reported previously by Total Market Solutions, investors in Eurasia Mining are on tenterhooks after the Russia-focused firm suspended trading of its shares last week. Many are hoping for positive news on a sale process that was kicked off in 2019. Platinum and palladium prices have also helped Eurasia.
Ahead of the share suspension, Eurasia’s share price had been climbing rapidly – from less than 0.5p last autumn to 7.2p.
It is shaping up to be a strong week for Alien Metals on the stock exchange.
Starting the week at 0.185p, Alien’s share price was sitting pretty at 0.21p on by the market close on Thursday. Proactive Investors speculates that the recent interest in Alien indicates that investors are excited about the prospects of its copper-gold project, Donovan 2, in Mexico. Alien last week revealed it had just commissioned its IP survey at the project.
Alien’s technical director, Bill Brodie Good, said at the time:
“I am pleased to announce that we have commissioned TMC EXPLORACION, S. R.L. de C.V. of Mexico, who did the previous geophysical studies on Donovan 2 to carry out a ground based IP survey to aid in defining a coherent drill target or targets. With their knowledge of the project to date they will be able to add further value to this program combining historic and new data and we look forward to a successful and positive outcome from the program. Mobilisation to site is imminent by TMC. Discussions are continuing with drilling companies to carry out future follow up work.”
Elsewhere, Brazil-focused Jangada Mines remains very much on a roll. Starting the year at 1.65p, Jangada’s share price closed Thursday at 2.1p after edging up from 2.07p earlier in the week.
Already boosted by soaring platinum prices, Jangada has released several pieces of good news to investors in recent weeks. Last week the company announced it had secured additional tenements at its Pitombeiras vanadium project in Brazil. The firm also completed the sale of its Pedra Branca project.
Jangada bosses shared several more updates with investors in a Q&A published on Friday you can read that here
Investors are clearly expecting some more good news from Cyprus-focused copper miner Chesterfield Resources soon.
After dipping earlier in the week, its share price by the close on Thursday was resting at 3.25p, up from 3.1p on Monday and at its highest level so far this year.
Early in the month, Chesterfield revealed positive news from testing at its volcanogenic massive sulphide targets at Troodos West in Cyprus.
Nu Oil & Gas
Shares in Nu Oil & Gas have rallied hard over the last few weeks with a number of holdings RNS from the company showing Sebastian Marr and Charles Brook-Partridge had taken notifiable stakes in the company.
As quick as the shares traded up they come crashing back to earth on Monday as the same significant holders disappeared into a plethora or rumour and liquidity. On Friday the shares recommenced trading with vigour off the lows at 0.05p
Canadian Overseas Petroleum
On Friday COPL announced it had Secured a Loan Facility to Progress OPL 226 Project from the companies CEO & President Arthur Millholland for a principal amount of CAD$200,000 (the “Note”). The Note is repayable by the Company six (6) months from the Issue Date and bears interest in Canadian Dollars at a rate of ten per cent (10%) per annum.
Shares in the company traded up significantly towards 0.15p in the early part of the session before settling back to a more palatable level by mid-morning. The company stated the funds will enable the company to continue discussions with investors and service providers with a view to commencing drilling of the first appraisal well at OPL 226 in 2020.