Today (14 October) on the Australian Securities Exchange (ASX), American Uranium (ASX:AMU) is pushing around 11.32% higher in intraday pricing — the same day mining giant Glencore (ASX:GLC) joins the bourse.
Mining giant and ASX lows
Despite Glencore’s addition to the ASX, the S&P/ASX 200 is performing lower, losing 74 points, or 0.84%, just after noon AEDT.
The materials sector has lost 0.67% today, among six other lower-performing sectors.
Paladin Energy (ASX:PDN), PDI Gold (ASX:PDI), and Genesis Minerals (ASX:GMD) are among the bottom performers on the index.
The index is virtually unchanged for the past five trading sessions and year to date.
Juniors rising
American Uranium is now trading at $0.059 per share after a $0.006 increase to its share price today.
This share price jump follows the securing of binding commitments for a $1.235 million convertible loan note facility in late August.
Funding was raised for hydrogeological testing and modelling, finalisation of a Scoping Study, and permitting activities at the Lo Herma In Situ Recovery (ISR) Uranium Project in Wyoming, US.
Just two days after this announcement, American Uranium completed large-scale aquifer testing at the project, which evaluated hydrogeological characteristics relating to potential ISR development at Mine Unit One.
American Uranium is focused on enhancing Lo Herma’s “strategic relevance within the US uranium sector”, CEO Bruce Lane previously said.
According to Trading Economics, uranium is priced at US$90 ($128) per pound, reflecting a 13.21% increase for this year over year.
Meanwhile, yesterday’s spotlighted high performer on the ASX, Alice Queen (ASX:AQX), has seen another significant increase to its share price.
Alice Queen is performing 16.66% higher today just after noon AEDT, bolstering trading again from yesterday’s 7.69% jump.
The company is now trading at $0.007 per share, with 2.32 billion shares on issue and a market capitalisation of $13.92 million.
Write to Maddison Elliott at Mining.com.au
Main Image: iStock
