Resources Top 5: Copper hits, two lithium stocks and a short-term uranium miner

  • NexGen’s high quality ‘Rook I’ uranium project is at the peak of its development cycle
  • Superior Resources has now increased by ~ 43% since the announcement of the big copper hit on ‘Bottletree’
  • Lithium stock Morella Corp continues to rise higher after re-listing on ASX earlier this month

Here are the biggest resource winners in early trading, Thursday, December 30th.

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The TSX-ASX listed company has a portfolio of projects across the uranium-rich Athabasca Basin in Saskatchewan, Canada.

NXG’s main game is the advanced ‘Rook I”s project, which hosts the high-quality Arrow uranium deposit.

A feasibility study from February – a detailed look at the economics of building a mine – was based on the treatment of 4,575,000 tonnes of uranium with 2.37% U3O8 (probable mineral reserve) from Arrow.

The £ 233.6 million U3O8 would be produced over an initial 10.7-year mining life, the company says.

Here are some of the key figures that look pretty good despite the high start-up costs:

In November, NXG entered the next phase of project development with the start of ‘front end engineering design’ (FEED).

FEED focuses on technical requirements and costs of building the project. This phase is scheduled to be completed in Q3 2022.

In parallel, the preparation of the project’s environmental impact assessment and licensing workflows that are nearing completion, together with regional exploration targeting new zones with potential ‘Arrow-type’ mineralization, exemplifies another example of the NexGen team’s commitment to a successful execution of more workflows, “CEO Leigh Curyer said.

The market capitalization share of DKK 2.65 billion The USD has risen 8.5% over the past month.

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SPQ has now increased by ~ 43% since the announcement of visual copper and scattered copper over much of a 659m long hole at ‘Bottletree’ porphyry copper-gold prospect last week.

The strongest copper mineralization occurs over a 200m range, the company says. Important analyzes await.

And this is not even the main goal at Bottletree – a large, interpreted copper-gold porphyry system located 500 m west.

“It should be noted that these copper mineralized zones are a secondary target and appear to be merely external mineralization zones or ‘leakage’ related to potentially a much larger porphyry copper-gold system,” said SPQ CEO Peter Hwang.

“The next program at Bottletree, targeting the end of Q1 2022, will be comprehensive and will target the interpreted porphyry system and the ‘satellite’ copper zones, including further drilling in the copper zone associated with the charging anomaly.”

Along with deep drilling at Bottletree, SPQ aims to deliver up to two JORC-compliant copper mineral resource estimates early in the new year; one at Wyandotte and the other at the larger ‘Cockie Creek’ copper prospect.

It also aims to get the small – but potentially lucrative – gold project ‘Steam Engine’ in Queensland into production.

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Copper-gold focused HMX has one of the best investigation teams in the industry.

It includes chairman Russell Davis (founder of Gold Road Resources (ASX: GOR)), MD Daniel Thomas (former head of business development at Sandfire Resources (ASX: SFR)) and non-exclusive director Ziggy Lubieniecki, a geologist credited with discovering GOR’s +6 , 5 Moz Gruyere gold depot.

The focus is on the ‘Mt Isa’ project in QLD, where HMX has a two-pronged focus: increase its stockpile of> 400,000 tonnes of copper through close mine exploration, as well as hunting for large iron oxide copper gold (IOCG) deposits.

In August, copper giant Sumitomo Metal Mining entered into a $ 6 million deal to cover 60% of a 290-square-mile[290 sq km]area of ​​Mt Isa.

An upcoming drilling program will test several compelling targets, HMX said in early December.

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Lithium stock formerly known as Altura Mining continues to rise higher after re-listing on ASX earlier this month.

1MC’s current management is a slim version of the Altura team, which built and operated its namesake lithium project, now owned by neighboring Pilbara Minerals (ASX: PLS).

After 16 months of suspension, 1MC now has a couple of new lithium exploration projects on the go, including ‘Mallina’ in WA’s Pilbara and ‘Fish Lake Valley’ brine project in Nevada, USA.

The company raised about ~ $ 8.5 million. before its re-listing at 0.5c per. shares.

The investors who came in at 0.5c would be happy, with the current share price up to 240% at these levels. It goes without saying that long-term investors remain deep in the red.

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Lithium explorer is well down on its insane September peak of 93c per share, but remains comfortable above its July 20c listing price of 20c.

BMM, recently divested by EV Resources (ASX: EVR) – is focused on the ‘Rekovac’ lithium project in the little known jurisdiction of Serbia.

The project “has similar geological surroundings” as Rio Tinto’s world-class Jadar discovery, the company says.

After a small drilling campaign – which hit lithium mineralization in two holes – surface mapping was carried out over the entire project area to achieve some drilling goals.

Data obtained from the mapping program have been analyzed to help with site selection as part of the proposed drilling campaign in 2022, BMM says.


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