Resources Top 4: Gold stocks gain again, while Piedmont’s US lithium ops get a boost

Piedmont Lithium gains crucial mining approval for its Carolina lithium project in the US
NewPeak continues to rejuvenate, pivoting to a uranium/REE/scandium project in Canada
Several goldies, including Felix, are faring well on the back of the rising gold price

Here are some of the biggest resources winners in early trade, Monday April 15.

Piedmont Lithium (ASX:PLL)

With a market cap just north of half a billion Aussie bucks, US lithium stock Piedmont is a pretty big producer/player in the North American lithium fields, and its latest news is very much expected to help it grow further.

PLL has announced this morning that it’s received its all-important mining approval for the Carolina lithium project in North Carolina.

“We plan to develop Carolina Lithium as one of the lowest cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain,” PLL boss Keith Phillips says.

“The project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina’s growing electrification economy.”

In mid February, the lithium big gun hit the news after it announced the sell-off of its shares in Canadian lithium producer Sayona Mining (ASX:SYA), which has been smashed this year so far, down 46% YTD.

PLL said at the time that the decision to divest the SYA shares aligned with its commitment to “maintain a prudent balance sheet while simultaneously minimising dilution of PLL shareholders”.

A bit more on that > here.

NewPeak Metals (ASX:NPM)

Explorer NewPeak is ascending again on the news it’s set to buy an early stage Canadian uranium, rare earths and scandium project for $500,000 in shares.

The project is located on the George River area that stretches across Quebec and Labrador, Canada and encompasses some 16,100 hectares. That’s a whole lotta land.

This news comes on the back of some serious gains late last week for the tiny explorer after it announced finalising 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.

For that, 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.

NPM says it plans to utilise proceeds from recent asset sales and continue the divestment of its other assets (Argentina gold and Sweden tungsten) to fund the exploration for uranium, REE and scandium properties in the Canadian tenements.

NPM share price

OzAurum Resources (ASX:OZM)

As well as maintaining focus on its gold deposits in Western Australia, OzAurum is on the hunt for white gold in Brazil’s ‘Lithium Valley’.

The company’s share price is double-digiting nicely at the time of writing on the back of the commencement of its drilling campaign at the Boca Rica project in Minas Gerais, Brazil.

That’s a 3,871ha project where OZM has identified a promising spodumene zone with extensive LCT pegmatite swarms observed over 1.7km.

The company believes the ground has the potential for a significant lithium discovery and has about $1.4 million set aside to undertake its Brazilian exploration operations.

CEO and MD Andrew Pumphrey noted that in addition to getting the drills spinning, the company “is still actively negotiating on additional advanced lithium acquisition opportunities” in Brazil, along with niobium and REE possibilities.

Source: OzAurum Resources

OZM share price

Felix Gold (ASX:FXG)

Given the escalation in Middle Eastern tensions and conflict right now, which threatens to bubble over further, it’s no real surprise to see the price of gold trending upwards with a flight-to-financial-safety narrative.

Can gold stocks capitalise? Of late we’ve been starting to see some break down of prior disconnect between the commodity gains and gold equities.

Today, Felix Gold is one junior catching the eye, at least on gains alone. At the time of writing, it’s made a 34% intraday push and is up 110% for the month, 28% or thereabouts YTD.

There’s no specific news coming from FXG channels today, however, it did note last week that testwork has yielded impressive recoveries over 90% at the company’s NW Array prospect in Alaska, ahead of a maiden gold resource.

The explorer says that this “will set the platform” to build towards the profile of Kinross Gold’s nearby Gill-Sourdough mine in the northern US state.

Felix Gold is one of the largest claim holders in the Fairbanks Gold Mining District, where historical gold production exceeds 16Moz.

Its leases are sandwiched between Kinross’ 11.8Moz Fort Knox mine (19km away) and Freegold Ventures’ 19.7Moz Golden Summit Project (18km away).

Felix Gold $FXG is pleased to announce that it has completed an initial leach test work program to provide information on potential gold recoveries at the NW Array Gold Prospect at its Fairbanks Gold Mining District in Alaska.
View https://t.co/dLOjyc4FN5 #Mining #Gold pic.twitter.com/Rvl8TfW4Nf

— Felix Gold (@_FelixGold) April 10, 2024