{"id":8564,"date":"2024-04-19T03:08:48","date_gmt":"2024-04-19T03:08:48","guid":{"rendered":"https:\/\/economicherald.net\/?p=8564"},"modified":"2024-04-19T03:08:48","modified_gmt":"2024-04-19T03:08:48","slug":"resources-top-5-theres-nothing-undercooked-about-these-asx-rare-earths-stocks","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8564","title":{"rendered":"Resources Top 5: There\u2019s nothing undercooked about these ASX rare earths stocks"},"content":{"rendered":"

Rare earths stocks are having a win as Gina Rinehart amasses equity positions in some of the world\u2019s biggest miners
\nToday\u2019s standout winner on the ASX is DY6, which picked up rock chips grading up to 3.22% rare earths
\nOther winners: LYN, GRL, NIM
\nCopper plays also on the rise, including CYM and FTL<\/p>\n

Here are the biggest small cap resources winners in morning trade, Friday April 19.<\/p>\n

\u00a0<\/p>\n

DY6 METALS (ASX:DY6)<\/a> and all the rare earths stocks<\/h2>\n

Rare earths stocks are having a win today, perhaps sparked by Gina Rinehart\u2019s move to amass strategic equity positions in the beaten-up sector.<\/p>\n

Shares of Lynas Rare Earths $LYC<\/a> rise as much as 5.9% to $6.45, the highest since January 10, after Gina Rinehart and Hancock Prospecting upped their stake in $LYC<\/a> to 5.82%.<\/p>\n

\u2014 CommSec (@CommSec) April 17, 2024<\/a><\/p>\n\n

The acquisitive mining billionaire also picked up a stake in US producer MP Materials which, along with Lynas, are the only miners of note outside China.<\/p>\n

Add to this predictions of a price rebound in the second half of the year<\/a>, and you have a good sentiment boost for the sector, which has fallen off the investment radar in recent times.<\/p>\n

Today\u2019s standout winner on the ASX is DY6, which picked up rock chips grading up to 3.22% rare earths at a newly granted licence at its Machinga project.<\/p>\n

The sampling over EL0705, acquired November last year, threw up some juicy anomalies only partially tested by previous drilling.<\/p>\n

This drilling<\/a>\u00a0over the original project area delivered strong results topping up at 15.1m grading 1.01% TREO with substantial niobium.<\/p>\n

DY6 is now refining targets ahead of next phase of drilling.<\/p>\n

Also making substantial gains in early trade were fellow REE stocks Lycaon Resources (ASX:LYN)<\/a>, Godolphin Resources (ASX:GRL)<\/a> \u2013 which snapped up the remaining 49% of its flagship project \u2013 and Nimy Resources (ASX:NIM)<\/a>.<\/p>\n

Rare Earths Winners Today:<\/h2>\n\n

<\/span>
\n\u00a0<\/p>\n

CYPRIUM METALS (ASX:CYM)<\/a><\/h2>\n

The owner of the mothballed Nifty copper mine in WA has secured the services of Scott Perry, a storied industry veteran with a bunch of wins under his belt.<\/p>\n

Perry \u2013 who will be CYM\u2019s non-exec director and chair of the audit committee \u2013 has been president & CEO at TSX-NYSE listed mid-tier Centerra Gold and chair of the World Gold Council\u2019s audit committee from 2015-2021.<\/p>\n

\u201cI am delighted to join Cyprium, which is quickly advancing one of the most exciting brownfields copper projects in Australia,\u201d Perry says.<\/p>\n

\u201cI look forward to contributing to the company\u2019s development as it continues to execute against its strategy and fast-track the recommencement of mining operations at Nifty.\u201d<\/p>\n

You can read about Nifty\u2019s not-so-nifty operating history here<\/a>.<\/p>\n\n

<\/span>
\n\u00a0<\/p>\n

FIRETAIL RESOURCES (ASX:FTL)<\/a><\/h2>\n

FTL listed April 2022 with veteran company makers on the board and heavyweights on the major shareholder list, including miner Spartan Resources (ASX:SPR)<\/a> and Chinese battery metals investor Jayson.<\/p>\n

Jayson is affiliated with CATL, the world\u2019s largest lithium battery cell manufacturer.<\/p>\n

Its focus right now is Picha; a giant project right in the heart of #2 copper producer Peru, where mining majors such as Vale, BHP, Rio and Newmont all operate.<\/p>\n

Assays are now trickling in from a maiden 5000m drilling campaign at Picha\u2019s Cumbre Coya copper target.<\/p>\n

\u201cThe confirmation of the continuation of the mineralisation over 170m with the structure open in all directions gives us huge encouragement for what we may have here,\u201d exec chair Brett Grosvenor says.<\/p>\n

\u201cWork continues on site as we move into the latter part of the drill program, and we eagerly await the next results to to further develop our understanding of this system.\u201d<\/p>\n

Results are pending for the third and fourth holes, which were drilled down to depths of 245m and 573m respectively.<\/p>\n\n

\ufeff<\/span><\/span>
\n<\/span><\/p>\n

The post Resources Top 5: There\u2019s nothing undercooked about these ASX rare earths stocks<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Rare earths stocks are having a win as Gina Rinehart amasses equity positions in some of the world\u2019s biggest miners Today\u2019s standout winner on the [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8565,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nResources Top 5: There\u2019s nothing undercooked about these ASX rare earths stocks - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8564\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Top 5: There\u2019s nothing undercooked about these ASX rare earths stocks - 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