Juniors on Radar: 5 ASX Explorers to Watch

By Market Index
Mon 17 Jan 22, 11:27am (AEST)

Key Points

  • Five juniors with interesting announcements today
  • Strandline Resources, Firefinch, Askari Metals, Green Technology Metals, Lunnon Metals

Strandline Resources reaches 50% completion at Coburn Mineral Sands 

Strandline Resources (ASX: STA) has jumped 7.41% upon opening, after reporting that construction of the Coburn mineral sands project in Western Australia is in line with the company’s timeline. Strandline says the project is on track to produce heavy mineral concentrate in December 2022. 

Managing Director Luke Graham commented:

“We are well placed to capitalise on what is a very strong market for mineral sands, with buoyant global demand and supply limited by the lack of investment in new projects in recent years. The strength of the market is reflected in the fact that spot prices for zircon and titanium feedstocks are at least 25 per cent above those used in the Coburn DFS.”

Firefinch has a golden December

Firefinch (ASX: FFX) is up 3.04% at the open today after announcing strong quarterly gold production. The company produced 4,788 ounces of gold in December–Firefinch’s second highest level of monthly gold production since acquiring Morila in late 2020. 

Gold currently trades at $1820 an ounce. At that price, Firefinch’s gold production was worth about $8.7m in December. 

Managing Director Michael Anderson commented:

“These latest production figures are consistent with our expectations, and at the upper end of guidance.”

Askari Metals expands lithium portfolio

Askari Metals (ASX: AS2) has expanded the company’s lithium portfolio by lodging exploration licence applications for exploration ground in the Pilbara which is prospective for Lithium-Tin-Tantalum. The new project area–dubbed the Yarrie Lithium Project–covers 1711 of exploration licences. 

The announcement saw the company bump a modest 1.54% at the start of today’s trading. 

Executive Director Mr Gino D’Anna commented:

“We are confident that Askari Metals has the right projects and the right team ready to make a discovery in the heart of the eastern Pilbara lithium hotspot.”

Green Technology Metals returns lithium results

Green Technology Metals (ASX: GT1) has jumped 14.92% at the open after reporting assay results for the North Aubry deposit within the company’s Seymour Project in Ontario, Canada. The drilling returned a thick and continuous intercept of 40m @ 1.54% lithium oxide.

Commenting on the announcement, Chief Executive Officer, Luke Cox said:

“By intersecting 40 metres thick lithium bearing pegmatite in this area, at such a good grade, the result presents strong evidence of the latent high-grade extensional potential of the North Aubry, and broader Seymour, system.”

Lunnon Metals takes home the bread with Baker assays

Lunnon Metals (ASX: LM8) has soared 35.51% upon announcing assays for the Baker Shoot, an emerging discovery at the Kambalda Nickel Project.

Managing Director Ed Ainscough commented:

“The assay results are now confirming Baker as an exciting, high grade, near surface discovery. We will get both RC and diamond rigs back to target these thick, high grade zones as they have the potential to have a significant impact on the maiden Mineral Resource.”

Written By

Market Index

Get the latest news and insights direct to your inbox

Subscribe free