Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch today

Thu 27 Jan 22, 3:34pm (AEST)

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Key Points

  • Five juniors with interesting announcements today
  • Artemis Resources, Cyprium Metals, KGL Resources, Centaurus Metals, Saturn Metals

Artemis Resources to list on London Stock Exchange

Artemis Resources (ASX: ARV) has received firm commitments to raise GBP $5m (~$9.5m) to gain a dual listing on the London Stock Exchange. The issue price of GBP $0.0375 (~$0.071) represents zero discount to the last traded ASX price on 21 January. 

Investors responded positively to the news, with the company jumping 8.57% at open.

Executive Director Alastair Clayton commented:

“That we have successfully raised the maximum amount approved by the Board at zero discount to the last traded price in Australia is, I believe, testimony to the opportunity and value proposition presented by our Paterson Central and Greater Carlow/Radio Hill gold - copper projects in Western Australia.”

Cyprium Metals hits significant copper intersections

Cyprium Metals (ASX: CYM) has reported further assay results from drilling at the company’s Nifty Copper project. According to the company, this has enhanced the possibility of a large-scale open pit development. 

Managing Director Barry Cahill said:

“These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine.”

KGL Resources updates mineral estimate for Bellbird

KGL Resources (ASX: KGL) has updated the mineral resource estimate for the company’s Bellbird deposit. The new estimate marks a 10% increase in contained copper, with resource tonnes up 28%. However, the copper grade has come in at a slightly lower 1.97%.

The stock rallied 7.7% at open but sank with the broader market, now just 1% higher.

Managing Director Simon Finnis commented:

“Even though the copper grade at Bellbird is lower for this mineral resource estimate, the more continuously-defined mineralised lodes will greatly assist with our mining strategy.”

Centaurus Metals reports “exceptional growth outlook”

Centaurus Metals (ASX Code: CTM) has reported that the Jaguar Nickel Sulphide project in northern Brazil continues to deliver outstanding results ahead of the project’s definitive feasibility study (DFS). The DFS–along with a maiden ore reserve estimate–is scheduled for completion by the end of 2022.

The company's stock jumped 8.2% as the market opened. However, profit taking and broader market weakness has its shares trading -1% lower.  

Commenting on the announcement, Managing Director Darren Gordon said:

“With these deposits remaining open at depth, there is still an enormous amount of resource growth potential available to us as we progressively drill deeper.”

Saturn Metals confirms significant gold system

Saturn Metals (ASX: STN) rocketed up 10.96% at the open after announcing drilling results from Bob’s Prospect–an area within the company’s Apollo Hill Gold Project, 60km south-east of Leonora, WA.

Managing Director Ian Bamborough said: 

“Improving results at Bob’s continue to show a target of considerable size with increasing grade vectors and promising geology.”

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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