SPQ turns heads in NE Australia after the Queensland state government grants it a nice slice of critical minerals funding
\nKuniko delivers a sizeable nickel-copper-cobalt MRE over in Norway
\nLithium hopeful Lepidico up on director news regarding a $5.7m round of capital raising\u00a0<\/p>\n
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Here are some of the biggest resources winners in early trade, Monday April 8.<\/em><\/p>\n \u00a0<\/p>\n Critical minerals hunter Superior, which focuses on copper, gold, nickel and tin, among other things, is offering superior gains this morning, with a +30% burst up the bourse at the time of writing. (Update: since cooled, still up about 15%.)<\/p>\n Reason? The Queensland government has done it a solid by materially backing the promising Bottletree Cu-Au-Mo prospect\u2019s drilling with a Critical Minerals Funding Grant to the tune of $300,000.<\/p>\n Specifically, it\u2019s called a Collaborative Exploration Initiative (<\/span>CEI<\/span>) grant and is approved by the Qld gov\u2019s Department of Resources.\u00a0<\/span><\/p>\n #ASX<\/a> announcement: Queensland Government backs Bottletree drilling with CEI Critical Minerals Funding Grant https:\/\/t.co\/0afbGBSdIu<\/a> $SPQ<\/a> #qld<\/a> #copper<\/a> #criticalminerals<\/a> #mining<\/a> #investing<\/a> #resources<\/a> #gold<\/a> #molybdenum<\/a> pic.twitter.com\/n0APqVqgxG<\/a><\/p>\n \u2014 Superior Resources (ASX:SPQ) (@Superior_Res) April 8, 2024<\/a><\/p>\n\n The funding further validates and affirms the company\u2019s belief it\u2019s onto something significant in the Greenvale Terrane of northern Queensland \u2013 now considered a highly prospective, and notably previously unrecognised,\u00a0 hunting ground for copper-gold mineralisation. Molybdenum, too.<\/p>\n What happens next? As soon as the volatile North Queensland weather settles down, the company will focus that fresh capital boon on the diamond drilling of two top targeted holes totalling a whopping 1,700m of drilling action.<\/p>\n The company notes the target is \u201csupported by several coincident circular anomalies, including a broad magnetic low anomaly, extensive 2.0km x 2.5km Cu soil anomaly and a gravity high anomaly\u201d.<\/p>\n Among other things,\u00a0Superior\u2019s MD Peter Hwang had this to say:<\/p>\n \u201cThe CEI program is a direct result of the Queensland Government\u2019s commitment to building the foundation for a globally-leading critical minerals jurisdiction.<\/p>\n \u201cThe porphyry copper-gold discovery at Bottletree and our exploration work over the greater Greenvale Project are progressively unlocking the multi-porphyry potential of the newly recognised Greenvale porphyry belt.\u201d \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Kuniko, a $26m capped European-focused minerals explorer that sounds more like a Japanese camera brand, is trading very much in the correct direction at a quarter past 12 today, on its nickel, copper and cobalt resource potential at a key project for it over in Norway.<\/p>\n The company has just completed a JORC-guideline-navigated Inferred Mineral Resource Estimate for its Ertelien nickel-copper-cobalt project and it comes in at an impressive 23Mt, which, according to it, underlines potential for a new European source of sustainable, disseminated and high-grade mineralisation.<\/p>\n Very specifically, the MRE provides a total resource of 23.3Mt of Inferred resources at 0.31% NiEq (0.21% Ni, 0.16% Cu and 0.014% Co) containing 49.7kt of nickel, 37.3kt of copper and 3.3kt of cobalt, including high-grade sulphide resources of 4.59Mt at 0.64% NiEq and disseminated sulphide resources of 18.68Mt of at 0.22% NiEq.<\/p>\n ASX Announcement: Ertelien 23Mt MRE Unveils Sustainable Ni\/Cu Potential. Read full announcement here https:\/\/t.co\/tIIgiyKySi<\/a>#Copper<\/a> #Nickel<\/a> #BatteryMetals<\/a> #ZeroCarbon<\/a> #exploration<\/a> #KNI<\/a> #ASX<\/a> #utenmineraler<\/a> $KNI<\/a> pic.twitter.com\/LLzzlQYTgY<\/a><\/p>\n \u2014 Kuniko Limited (@KunikoLtd) April 8, 2024<\/a><\/p>\n\n Moreover, the geological setting, says Kuniko, is comparable to the Tier 1 nickel-copper deposits in Voisey\u2019s Bay, Labrador, Canada.<\/p>\n And crucially, too, there is reportedly substantial potential for resource expansion at Ertelien along-strike, as well as at depth. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Lithium hopeful Lepidico is up goodly (see below, but about 20% at time of writing) on some internal company news.<\/p>\n Directors and key management have revealed they will participate in a ~$5.7m entitlement offer in full and through respective super funds and trusts. Plus, all are applying for a shortfall allocation.<\/p>\n The company describes itself thusly:<\/p>\n \u201cLepidico is an innovative developer of sustainable lithium hydroxide and other critical minerals, and the global leader in lithium mica processing.\u201d<\/p>\n From what we can quickly glean from its website, Lepidico has a brownfield open-mining op over in Namibia, where its ore is flotation-tech processed into lepidolite concentrate and sent over to the UAE for conversion.<\/p>\n Lithium hydroxide is then shipped off to global customers under a binding offtake agreement with a company called Traxys. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Graphite minnow Evion is developing projects for the mineral in Madagascar, Europe and India.<\/p>\n It\u2019s the latter that pulls focus of late, with the company announcing that production has now begun at an expandable graphite JV site dubbed Panthera Graphite Technologies.<\/p>\n That\u2019s a newly constructed operation that\u2019s a 50\/50 arrangement between a company called Metachem Manfacturing and EVG.<\/p>\n Evion notes that \u201csubstantial graphite concentrate is now on site\u201d to be delivered asap\/short term, with ramp-up plans to swiftly follow.<\/p>\n There is considered to be a global shortage of expandable graphite ever since a ban by China on the export of its graphite materials in October last year.<\/p>\n The sort of graphite the company is producing is a key component in flame retardants, but also, more notably given the globally growing EV narrative, lithium-ion batteries. (Unless sodium-ion potential roils that plotline, in which case, graphite\u2019s heavy involvement in those type of next-gen batteries is possibly doubtful.) \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This tiny NSW\/Torres Strait\/Fiji-focused copper-gold explorer is up on some funding news with subsequent high trading volume kicking in.<\/p>\n The company revealed this morning that its largest shareholder, Gage Capital \u2013 currently with 18.67% \u2013 has agreed to fork out a further $3.6 million for the AQX treasure hunt.<\/p>\n If that all goes ahead as planned, Gage will have the right to bung a second director on the board \u2013 one Mr Wang Jianying.<\/p>\n The funds would go straight into advancing (\u201crapidly\u201d) exploration at the company\u2019s Sabeto and Viani projects in Fiji which is expected to include diamond core drilling and working capital expenses.<\/p>\n Commentary? There\u2019s some in the mix, but to paraphrase, it\u2019s generally about company excitement regarding Alice Queen\u2019s Fijian exploits and project potential for becoming a significant gold resource base. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Resources Top 5: Queensland government lobs $300k at copper-gold hunter Superior<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Superior Resources (ASX:SPQ)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nSPQ share price<\/h2>\n\n
\n\u00a0<\/p>\nKuniko (ASX:KNI)<\/strong><\/a><\/h2>\n
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\n\u00a0<\/p>\nLepidico (ASX:LPD)<\/strong><\/a><\/h2>\n
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\n\u00a0<\/p>\nEvion Group (ASX:EVG)<\/strong><\/a><\/h2>\n
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\n\u00a0<\/p>\nAlice Queen (ASX:AQX)<\/strong><\/a><\/h2>\n
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