NewPeak Metals leads the ASX ressie gainers today with a golden 130%+ gain
Estrella continues to make manganese moves in Timor Leste
TechGen and Pioneer Lithium are both up on white gold-related news
Here are some of the biggest resources winners in early trade, Friday April 12.
Whoa. Gold. Seen its price today? Of course you probably very well have.
Hitting another record high of US$2392 a handful of hours ago, it’s been busting yet more moves, shrugging off a pissweak attempt to dampen rate-cutting spirits from inflation data nerds, the Fed, the macro… the vibe.
And gold juniors (and majors) are starting to wake up of late. Interestingly, though, here’s one cashing in as it moves out of a Scandi gold project…
NewPeak Metals (ASX:NPM)
This tiny explorer tripled-bagged its intraday gains earlier today with a +200% burst. It’s since pulled back but is still about 130% to the good at the time of writing.
NewPeak has finalised the sale of its share in a Finland gold project to a soon-to-be-listed Canadian company currently going by the unwieldy name of 1459992 BC, which is connected with Canadian corporate figure Emma Fairhurst.
NPM is receiving CAD$500,000 cash, CAD$1m in shares of the listed company, and a milestone payment of CAD$1.5m in cash or shares on reporting of a 500,000oz gold resource.
For what it’s worth to you, the sale encompasses NPM’s Finnish subsidiary companies NewPeak Finland Oy and Kultatie Holding Oy, which hold the portfolio of Finland Gold suite of permits.
The company says the sale forms part of its “strategic rejuvenation plan” – which includes gold hunting in Argentina as well as possible battery metals moves in Australia and the Americas.
NPM share price
Estrella Resources (ASX:ESR)
Moving on to manganese. Junior explorer Estrella is into it over in Timor Leste, where it has uncovered a manganese host rock over 27km of strike at the Lautém project.
We mentioned Estrella here about a week ago when it was bursting up on high-grade rock chip sampling from the project and an assay result of 60.8% manganese – one of four samples taken during initial limited reconnaissance.
Now, geological recon work within the 503.7km2 tenure has defined prospectivity for both manganese and copper-gold (Cu-Au) in what’s been dubbed the Noni Formation (27km of strike).
The copper-gold occurrences, by the way, are recorded in historical data reviews are associated with the Legumau Range which strikes for about 14km within the Lautém project.
Source: Estrella Resources
ESR share price
TechGen Metals (ASX:TG1)
Gold, copper and base metals is TechGen’s game. And why not, eh? It’s a pretty great time right now to be into such things.
SFX: record scratch…
Hang on, we almost forgot it’s also very much into lithium, and that’s actually what’s sending TG1 double digits to the good so far today.
The company has made an exploration update at its 100% owned Ida Valley lithium (okay, and gold) project, which is 50km north along strike from Delta Lithium’s (ASX:DLI) Mt Ida Lithium deposit and 100km south of Liontown Resources’ (ASX:LTR) Kathleen Valley deposit in Western Australia.
It just wouldn’t be a lithium pump without some “nearology”.
TechGen notes that two priority LCT (lithium, caesium & tantalum) targets are to be tested at the project, dubbed Central and Northwest.
There’s also a historic untested gold anomaly at Northwest, which the company’s also taking a good, hard look at.
RC drilling has reportedly begun at the Central target, with six holes to 150m at each target planned.
ASX Announcement: Ida Valley Lithium Drilling has Commenced. Read full announcement here https://t.co/79C9ypeUc1 #lithium #pegmatite #caesium #gold #Exploration #MiningStocks #Mining #stockmarket #ASX pic.twitter.com/WTLQGLE71C
— TechGen Metals (@TechGenMetals) April 11, 2024
TG1 share price
Pioneer Lithium (ASX:PLN)
More white gold.
Pioneer Lithium doesn’t actually have fresh news today, but seems to still be travelling nicely on an April 9 funding reveal.
The company has received C$180,916 awarded under the Ontario Junior Exploration Program (OJEP) from the Ontario Government.
The amount actually covers up to 50% of eligible exploration costs, to a maximum of C$200,000. And that exploration refers to PNR’s flagship Root Lake project in Northwest Ontario.
Pioneer Lithium is pleased to announce that it has received C$180,916 awarded under the Ontario Junior Exploration Program from the Ontario Government.https://t.co/2ZR1firu6s$PLN #lithium #exploration #Canada #Ontario #ausbiz pic.twitter.com/ZtW6FlRh3h
— Pioneer Lithium (@PioneerLithium) April 9, 2024
PLN share price
Meanwhile…
As Reubs noted earlier, larger gold stocks are surging alongside the new record high gold spot price, led by RED 5 (ASX:RED), Regis (ASX:RRL), Resolute (ASX:RSG), and Bellevue (ASX:BGL).
The post Resources Top 4: NewPeak reaches Finnish line with project sale as gold price soars appeared first on Stockhead.
