Rockets and Tanks: Australian Potash, Poseidon Nickel shares soar 50%

As the week comes to an end, several junior explorers have notched buzzer-beating share price gains.

On the back of no news, Australian Potash’s (ASX:APC) share price has spiked 50% to $0.001 as of 1pm today. 

Poseidon Nickel (ASX:POS) has also seen its share price climb 50% to $0.006 today, after announcing an update at its Lake Johnston Project in Western Australia. 

Poseidon Nickel, which has a market capitalisation of $14.85 million, has restarted greenfields exploration work, following a four-month hiatus. 

The company is also preparing to start a reverse circulation drilling program at Maggie Hays West, which it says is a compelling greenfields nickel sulphide target with coherent, nickel-copper-platinum group element regolith anomaly defined in shallow aircore drilling over 1km. 

Gold and base metal explorer Apollo Minerals’ (ASX:AON) share price is up 31.81% to $0.029 as of 1:30pm this afternoon. The company has not released any announcements since its quarterly report on 26 April 2024. 

Meanwhile, Helix Resources’ (ASX:HLX) share price had spiked 25% to $0.005 today on the back of a “heavily oversubscribed” rights issue announcement, under which the company raised $2.3 million. An additional $500,000 was accepted via a placement to accommodate the excess demand. 

The proceeds will be used to fund drilling activities at the Canbelego Copper Project in New South Wales. Helix is testing a priority geophysical target, which is considered to be the largest and strongest induced polarisation anomaly identified at the project to date. 

Laggards

On this week’s laggards list is Sihayo Gold (ASX:SIH) which dropped 33.33% to $0.002 per share. The company has not released an announcement since its quarterly report on 30 April 2024.

Also on the back of no news, battery minerals explorer Morella Corporation’s (ASX:1MC) share price dropped 16.66% to $0.002.

Western Australia explorer Asra Minerals (ASX:ASR) likewise witnessed a decrease in its share price of 14.28% to $0.006. The company has also not made an announcement since the RIU Sydney Resources Round-Up conference earlier this month. 

Finally, rare earths and lithium explorer Odessa Minerals’ (ASX:ODE) share price had slipped 12.5% to $0.003. The company has not announced any news since its quarterly report on 29 April 2024. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Poseidon Nickel
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.