TG Metals slayed it in October on the back of lithium intersections at Lake Johnston, WA
\nFIN also pushed the white gold narrative hard with multiple finds over in Canada
\nBut it wasn\u2019t all about lithium. Certain graphite and gold stocks also fared well, including EGR and DCN<\/p>\n
\u00a0<\/p>\n
In early October, while assessing September data, we asked \u201cAre we nearing the bottom of this bear market for junior resources companies?\u201d Now it\u2019s early November and judging by the October we just had\u2026 the question still begs.<\/p>\n
It might\u2019ve been \u201cUptober\u201d in the metaversal fantasy land of magic internet monies (ahem, Bitcoin was up 28% for the month) but in the real world, where you can actually touch and smell things pulled from ground\/orifices \u2026 yeah, not quite as stonking on the whole.<\/p>\n
That\u2019s not to say there weren\u2019t some serious gainers. Of course there were. Just a fairly modest amount again this time around compared with the heady days of June (not to mention March 2022) \u2013 as you can see from our highly scientific Bag Tally chart below.<\/p>\n\n
October\u2019s Bag Tally \u2014 stocks with gains of 100% or more \u2014 was, like September\u2019s, solid but unremarkable. A pass mark, head in clouds of drill dust, and a \u201cmust try harder note\u201d for next\/this month.<\/p>\n
Maybe Jerome Powell over at the US Federal Reserve can help the Bag Tally lift in November.<\/p>\n
Per Eddy \u201cMarket Highlights\u201d Sunarto:<\/p>\n
The Fed Reserve\u2019s decision to keep its main cash rate at 5.25%-5.5% was unanimous, and\u00a0 many on Wall Street believe the Fed is done with rate hikes.<\/em><\/p>\n \u201cThe Fed did not rule out a rate increase in the coming months, but swap contracts showed traders weren\u2019t convinced,\u201d said Oanda\u2019s Edward Moya.<\/em><\/p>\n \u201cThe Fed tried to deliver a hawkish hold but Wall Street is not believing additional tightening will happen this cycle.\u201d<\/em><\/p>\n Not so sure the RBA\u2019s Michele Bullock\u2019s is on the same page, but. We\u2019ll see.<\/p>\n We digress. Back to the matter at hand\u2026<\/p>\n \u00a0<\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/p>\n WordPress Tables Plugin<\/a><\/p>\n \u00a0<\/p>\n TG Metals (ASX:TG6)<\/strong><\/a> +251%<\/strong><\/p>\n Dacian Gold (ASX:DCN)<\/strong><\/a> +167%<\/strong><\/p>\n Fin Resources (ASX:FIN)<\/strong><\/a> +158%<\/strong><\/p>\n Ecograf (ASX:EGR)<\/strong><\/a> +109%<\/strong><\/p>\n Bulletin Resources (ASX:BNR)<\/strong><\/a> +103%<\/strong><\/p>\n King River Resources (ASX:KRR)<\/strong><\/a> +100%<\/strong><\/p>\n \u00a0<\/p>\n This lithium, nickel and gold exploration junior was the month\u2019s clear ressie stocks winner. In fact, never mind that, it was the clear winner on the ASX overall for October.<\/p>\n In fact, even though it\u2019s pulled back by about 11% on the daily timeframe at the time of writing, it\u2019s up roughly 352% now over the past 30 days.<\/p>\n A week or so ago, it announced an interception of high-grade lithium at its Lake Johnston Li-Ni-Au project in the Lake Johnston Greenstone Belt of WA.<\/p>\n The company, dubbed a \u201ctethered goat\u201d by Joe \u201cMr Lithium\u201d Lowry, noted that initial drilling of the 4.5km by 1.7km Burmeister lithium soil anomaly within the project has found a spodumene-bearing pegmatite with grades up to 2.28% Li2O.<\/p>\n #TGMetals<\/a> featured @StockheadAU<\/a> \u2014 TG Metals Limited (@TGMetals) November 1, 2023<\/a><\/p>\n\n As noted in our special report<\/a> the other day:<\/p>\n The stock listed on the ASX May last year with assets prospective for nickel, lithium, and gold in the Goldfields-Esperance region of WA.<\/p>\n It had amassed the largest land package ever held by one exploration company within the Lake Johnston Greenstone Belt, saying the region has been \u201chistorically overlooked and underexplored\u201d.<\/p>\n Five of the six holes completed, which were drilled to depths of between 120m and 132m, intersected multiple-stacked pegmatites with all pegmatite intervals hosting lithium mineralisation averaging 1.46% Li2O in spodumene.<\/p>\n Down-hole widths ranging from 9m to 12m and the better intercepts are 9m at 1.35% Li2O from a down-hole depth of 30m and 9m at 1.62% Li2O from 87m.<\/p>\n TG6 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Dacian had a big month on the back of an acquisition bid from Raleigh Finlayson\u2019s $1.5b market capped gold miner Genesis Minerals (ASX:GMD)<\/strong><\/a>, which announced it was going all in for the much smaller goldie in a takeover a long time in the works.<\/p>\n Dacian boasts a 2.9Mtpa processing facility and highly prospective land package in the Leonora\/Laverton region.<\/p>\n More on the takeover news here<\/a>.<\/p>\n TODAY’S ASX NEWS:<\/p>\n Dacian Takeover Offer \u2013 Improved Offer Consideration now payable \u2013 https:\/\/t.co\/MJaT8nsGip<\/a> #mergersandacquisitions<\/a> #manda<\/a> #growth<\/a> $DCN<\/a> $GMD<\/a> pic.twitter.com\/49IFPtKJl2<\/a><\/p>\n \u2014 Genesis Minerals Ltd (@genesisminerals) October 29, 2023<\/a><\/p>\n\n There\u2019s actually some fresh news on this gilt-edged narrative for DCN today (November 2).<\/p>\n Genesis Minerals has announced to the ASX it\u2019s set to proceed with its \u2018post-bid compulsory acquisition\u2019 of any DCN shares not accepted into Genesis\u2019 takeover offer. Genesis has now lodged a compulsory acquisition notice with ASIC. More on that here<\/a>.<\/p>\n DCN share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span><\/p>\n \u00a0<\/p>\n Fin Resources had a truly spod-tastic October, discovering pegmatite bodies left, right and centre over in lithium hotspot James Bay, Canada.<\/p>\n Here\u2019s just some of what occurred:<\/p>\n October 9<\/strong> \u2013 Young lithium bull shark Fin Resources carved through ASX waters<\/a> after its maiden fieldwork program identified abundant spodumene crystals within a broad pegmatite outcrop at the Cancet West project in James Bay, Canada.<\/p>\n October 16<\/strong> \u2013 Fin increases Cancet West project area by 57%<\/a> to 79km2 after finding large spodumene crystals. New claims more than double strike extent of highly prospective LCT pegmatite trend.<\/p>\n October 23<\/strong> \u2013 Fin discovers five pegmatite bodies at the Ross project<\/a>, part of the Mt Tremblant lithium project in James Bay.<\/p>\n Oh, and news just in\u2026<\/p>\n November 2<\/strong> \u2013\u00a0MORE spodumene crystals<\/a> have now just been found at Cancet West just six months after project acquisition. The new discovery area named White Bear and drilling is being planned for early next year.<\/p>\n FIN share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span><\/p>\n \u00a0<\/p>\n At Stockhead we tell it like it is. While TG Metals and FIN are Stockhead advertisers at the time of writing, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Who Made the Gains? Here are October\u2019s top ASX miners and explorers<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Here are the top ASX resources stocks for the month of October >>><\/h2>\n
Making the Bag Tally grade<\/h2>\n
TOP 3 BELTERS<\/h2>\n
TG Metals (ASX:TG6)<\/strong><\/a> +251% <\/strong><\/h2>\n
\u201cTethered Goat\u201d as Joe \u201cMr Lithium\u201d Lowry recently dubbed #TG6<\/a> \u2013 is continuing the good vibes from its recent find with an investor presentation drilling further into the details for shareholders & other interested partieshttps:\/\/t.co\/wctHDdGSGA<\/a><\/p>\n
\n\u00a0<\/p>\nDacian Gold (ASX:DCN)<\/strong><\/a> +167% <\/strong><\/h2>\n
Fin Resources (ASX:FIN)<\/strong><\/a> +158% <\/strong><\/h2>\n