Juniors on Radar: Explorers on the Move Today

Commodities 

#1 Coal

Coal has gained 9.23% today. Supply restrictions from Russia sanctions, combined with strong demand, saw coal prices hit an all-time high in early March. 

• Ikwezi Mining (ASX: IKW) was up 8.19% at the open and 927.78% for the last year. The company’s recent quarterly report noted an average of 85,228t of feed per month at the Emoyeni wash plant, along with a 9% increase in total tonnes mined from the Kliprand mine.

  • Upcoming catalyst: at the Emoyeni wash plant, the company plans to increase production throughput to 125,000t per month in the upcoming quarters. 

#2 Gold

Gold has rallied 1.4% after slumping in the second half of last month. Today’s bounce came thanks to a less hawkish US Federal Reserve, along with a weakening US dollar. 

• Monger Gold (ASX: MMG) is up 10% at the open after reporting what the company describes as “further significant gold results” at the Providence prospect. The company is up 106.25% for the last year. 

Upcoming catalyst: the company is developing a maiden mineral resource estimate at Providence.

Company announcements

#1 Auroch Minerals

Auroch Minerals (ASX: AOU) opened 9.52% higher after reporting assays for four more drill holes at the Saints nickel project in WA.

According to the company, all holes found “high-grade massive nickel sulphides.”

Managing director Aidan Platel commented:

“The results from the recent diamond drill programme at Saints continue to confirm the modelled zones of thick high-grade nickel sulphides, which also include significant grades of copper, cobalt and PGEs (Pt & Pd). This bodes well for upgrading the confidence level of the Saints MRE [Mineral Resource Estimate].”

Upcoming catalyst: the company plans to complete a mineral resource estimate for the Saints project later this quarter. 

#2 Australian Mines

Australian Mines (ASX: AUZ) has opened 5.71% higher after providing an exploration update for the Biloela copper-gold project in QLD. To date, the company identified seven possible copper-gold targets, and plans to commence further exploration work soon. 

“The Biloela Project appears highly prospective for porphyry copper-gold and epithermal gold deposits, and the geology is already host to the successful Cracow Gold Mine,” says the company. 

Upcoming catalyst: the company is creating a 12-month exploration program to cover the 7 copper and copper-gold prospects.