Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch

Mon 20 Dec 21, 12:23pm (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Coda Minerals, Gascoyne Resources, Golden Rim Resources, Poseidon Nickel, and Volt Resources

Coda Minerals announces big mineral resource estimate for copper-cobalt project

Coda Minerals (ASX: COD) and joint venture partner Torrens Mining (ASX: TRN) have reported the maiden mineral resource estimate for the Emmie Bluff Copper-Cobalt deposit in South Australia. Coda owns a 70% stake, while Torrens has a 30% interest. 

CEO Chris Stevens commented:

“With a combined tonnage across the three deposits of approximately 1.1 million tonnes of contained copper equivalent, the Elizabeth Creek Joint Venture now has a substantial copper and cobalt inventory – putting Coda in an enviable position as we enter what is widely expected to be a strong growth market for future-facing metals.”

Gascoyne Resources boosts balance sheet with $20m debt facility 

Gascoyne Resources (ASX: GCY) have signed a convertible note facility agreement with with major shareholder, Deutsche Balaton AG. Of the $20m proceeds, $10m will be used to repay existing Investec debt, while the other $10m will go towards general working capital purposes.

Managing Director and CEO Simon Lawson said:

 “The new debt facility provides us with the financial flexibility and balance sheet strength to progress our near-term growth strategy at Dalgaranga, Yalgoo and the broader Murchison region as a whole.”

Golden Rim Resources intersects high-grade gold

Golden Rim Resources (ASX: GMR) has announced high-grade gold assays from the second round of resource definition drilling at the Kada Gold Project in Guinea.

Managing Director Craig Mackay commented:

“The new shallow oxide intersection of 96m at 3.3g/t gold in KRC025 is the best to date from Kada.”

Poseidon Nickel achieves high-grade intersections

Poseidon Nickel (ASX: POS) has identified an area of continuous well-developed massive nickel sulphides in the company’s Tundra-Mute project. The assay results include 15m at 17.92% nickel.

Commenting on the announcement, Managing Director and CEO Peter Harold said:

“We are delighted that the recent Silver Swan drilling has returned a series of high-grade results which will most certainly add tonnes to the resource base at Tundra-Mute.”

Volt Resources announces strategic collaboration with Urban Electric Power

Graphite producer and battery anode material developer Volt Resources Limited (ASX: VRC) is pleased to advise it is in the process of entering into a strategic collaboration with advanced alkaline battery producer, Urban Electric Power.

Managing Director Trevor Matthews commented:

“Volt views the alkaline battery market as a tremendous opportunity to participate in a sector with annual sales of US$7.5 billion.”

Written By

Jed Herne

Content & Strategy

After graduating with a 99.4 ATAR, Jed won 3 scholarships to Curtin University, where he earned his Bachelor's degree and served as a Student Ambassador. He is primarily interested in long-term passive index funds as a vehicle for financial independence. Outside of covering financial news, Jed is a published author, podcaster, and has an unhealthy obsession with bouldering.

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