Stockhead’s In-Case-You-Missed-It highlights today’s most interesting small cap stories that might have slipped beneath your radar.
Below is a wrap of the top 20 performing stocks, by percentage, that made announcements today.
ICYMI Leader Board
Aguia Resources (ASX:AGR) wants to acquire South American gold hunter Andean Mining and its operational Santa Barbara gold mine and Atocha silver-gold exploration project in an all-share offer.
Cleaning and security services stock Millennium Services Group (ASX:MIL) could be acquired by SoftBank Robotics Singapore for $1.15/sh – a big 85% premium to the last closing price – with the board recommending the deal.
Group 6 Metals (ASX:G6M) is receiving a cash injection to the tune of a $14.1m R&D refund from the ATO, which will help the company ramp up its output of this hardest of all metals that’s super useful across various industries including aerospace, defence, mining, construction and automotive, among others.
Payments solutions company A2B Australia (ASX:A2B) has sold its property at 9-13 O’Riordan Street, Alexandria for a sweet $78m, announced a fully franked dividend of $0.60 per share declared and entered into a scheme implementation arrangement for ComfortDelGro Corporation Australia to acquire A2B for $1.45 per A2B share in cash (excluding dividend).
And Copper Search (ASX:CUS) says a follow-up IP geophysical survey has extended the chargeability zone by 1.2km to the south at the Paradise Dam prospect at its Peake project in SA.
More Top Small Cap Stories: Friday
FightMND, Australia’s leading not-for-profit foundation for motor neurone disease research, has invited PharmAust (ASX:PAA) to submit a grant application for up to $1.8m to help cover costs of its planned Phase 2 study due to begin in H1 2024.
Azure Minerals (ASX:AZS) has reported more high-grade assays from its Andover discovery of up to 1.33 Li2O just days after SQM and Hancock Prospecting announced a joint bid to take over the company.
Besra Gold (ASX:BEZ) has successfully completed the production of gold concentrate from its Bau project in Borneo.
Burley Minerals (ASX:BUR) says preliminary metallurgical test work on composite samples of spodumene-bearing pegmatite from its Chubb Central project in Québec has indicated excellent lithium recoveries of 72% for high grade and 60% for low grade with both achieving > 6% Li2O commercial concentrate grades.
Botala Energy (ASX:BTE) has received firm commitments from sophisticated investors for a placement to raise $2.4m at $0.09 per share to complete its commercial pilot program at its Projcet Piste in Botswana.
Scorpion Minerals (ASX:SCN) has completed maiden Reverse Circulation (RC) drilling at its Pharos lithium project in WA, looking to validate historic sampling which returned up to 2.99% Li2O.
Raiden Resources (ASX:RDN) says pegmatite outcrop analysis has confirmed five new potential zones for lithium bearing pegmatites at its Andover South project in WA.
Ionic Rare Earths (ASX:IXR) has raised $5.5m via a placement at $0.021 per share – including a commitment from director Sufian Ahmad for a further $400,000 – to fund the completion of the demonstration plant at its Makuutu ionic adsorption clay rare earth project in Uganda and the ramp up of subsidiary Ionic Technologies’ magnet recycling demonstration plant in Belfast.
Riedel Resources (ASX:RIE) has secued firm commitments to raise ~$0.6m via a placement at $0.0035 per share to support ongoing exploration, metallurgical test work, and a preliminary economic study for its Kingman gold project in Arizona.
And Ora Banda (ASX:OBM) expects to receive the first $10m tranche payment today from its farm-in agreement with Wesfarmers Chemicals, Energy & Fertilisers division (WESCEF) in respect of non-gold mineral rights at the Davyhurst project in WA.
At Stockhead we tell it like it is. While Scorpion Minerals, Raiden Resources, Besra Gold, Pharmaust, Azure Minerals, Burley Minerals, Botala Energy, Ionic Rare Earths, Riedel Resources, Copper Search and Ora Banda Mining are Stockhead advertisers, they did not sponsor this article.
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