Juniors on Radar: Explorers on the Move Today

By Market Index
Fri 29 Apr 22, 11:15am (AEDT)

Key Points

  • Gold - Oceanagold, Pacgold
  • +10.08% Hawsons Iron
  • +8.82% South Harz Potash

The S&P/ASX 200 materials index opened 0.48% higher today, under performing the ASX 200. 

ASX Materials Sector 3-Month Chart 29-04-2022
3-month chart of the S&P/ASX 200 materials index, with the ASX 200 shown in red. 

#1 Gold

Gold has risen 0.3% today, recovering from a recent slump that saw gold prices hit their lowest point in 2 months. 

  • Oceanagold (ASX: OGC) is up 7.55% at the open after reporting quarterly results. The miner recorded record revenue for the quarter, along with a 29% reduction in net debt. Oceanagold is up 50.44% for the last year. 

  • Pacgold (ASX: PGO) is up 9.22% at the open after also releasing quarterly results. The company is currently focused on exploration of three priority drilling targets within the Alice River gold project in North Queensland. Pacgold is up 197.69% for the last year. 

Company announcements

#1 Hawsons Iron

Hawsons Iron (ASX: HIO) has opened 10.08% higher off the back of the company’s quarterly report. 

Noteable standouts include the full acquisition of the Hawsons Iron project, along with an extension of a bankable feasibility study to assess the potential for a 20Mt processing option.

“We owe it to our shareholders and stakeholders to investigate a 20 Mtpa operation to unlock the full potential of this large-scale iron ore resource,” says executive chairman Bryan Granzien. 

#2 South Harz Potash

South Harz Potash (ASX: SHP) has opened 8.82% higher after receiving assay results from recent drilling in the Ohmgebirge area of the company’s South Harz potash project. 

Managing director Chris Gilchrist said the results show “excellent correlation with the nearby historic drillhole which was drilled over a century ago.”

“This further substantiates our confidence in the accuracy of the 41 drillholes in the Ohmgebirge project area, and indeed the 300 drillholes which we acquired as part of our suite of perpetual mining licences.”

Next catalyst: work at the project’s second drill site is expected to finish in mid-May. 

Honourable mentions


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