In this week’s Rockets and Tanks, a range of mining companies saw the highs and lows on the Australian Securities Exchange (ASX) yesterday (13 August).
One company trading higher was Bayan Mining and Minerals (ASX:BMM), where its value jumped 39.53% to a share price of $0.12 after updating the market on the progress of the group’s projects in North America.
Projects discussed include the Desert Star and Desert Star North projects, both in California, as well as the Bayan Springs South Project in Nevada, and the Arrel Lithium Project in Québec.
Bayan is currently undergoing exploration programs at the Desert Star projects, after completing a second phase of fieldwork at Bayan Springs South.
The company was required to respond to the ASX’s price and volume query, unaware of any unannounced information that could justify its jump in the market, aside from a current assessment of assays from the Arrel Lithium Project, which remains confidential within Bayan’s reach.
Bayan indicates that recent trading may be a reflection of Dateline Resources’ (ASX:DTR) recent announcement relating to its Colosseum Project, located in close proximity to Desert Star.
OD6 offtake
After announcing its intention to engage with offtake partners for its Splinter Rock Project in Western Australia, OD6 Metals (ASX:OD6) surged 54.3% reaching $0.054 per share.
As reported by Mining.com.au, the company just came into production of “high-quality” mixed rare earth carbonate (MREC) and mixed rare earth hydroxide (MREH), returning around 56% and 59% total rare earth oxide (TREO) respectively.
Offtake partners will allow OD6 to assess commercial payability and expand its customer network across Asia, Europe, and North America.
The project hosts an indicated resource of 119 million tonnes @ 1,632 parts per million (ppm) REO as well as an inferred resource of 563 million tonnes @ 1,275ppm TREO.
OD6 Metals is an Australian explorer that intends to advance the critical minerals sector, focusing on copper and rare earths.
Riversgold (ASX:RGL) is similarly up 33.33% to trade shares at $0.004, with the only news being a change of Directors interest notice announced the previous session.
The company, which has a market capitalisation of $5.05 million, is an Australian explorer looking to develop its copper and gold reach in Australia and Canada.
Its portfolio of assets include the Tambourah Project, the Northern Zone Project, and the Wodgina Project all located in Western Australia.
On the decline with no news, MRG Metals (ASX:MRQ) fell 25% yesterday to a share price of $0.003.
The day prior, MRG announced its intention to extend the closing date of its entitlement offer to 22 August 2025.
MRG is looking to raise $817,956 via a pro-rata non-renounceable three for 10 entitlement offer, open to eligible shareholders.
The offer opened on 29 July, allowing shareholders to purchase options at $0.001.
MRG is a heavy mineral sands explorer focused on reaching a development stage in Mozambique.
Similarly, Austin Metals (ASX:AYT) is also down 25% to trade at $0.003 with no news to reflect the fall.
The company recently entered a binding agreement with Kingfisher Mining (ASX:KFM), selling its Broken Hill tenement package in New South Wales for a total consideration of $400,000.
The package comprises 11 exploration licenses for a $200,000 cash payment and $200,000 in Kingfisher shares.
Austin Metals, which has a market capitalisation of $6.33 million, is an Australian explorer with a portfolio of assets spanning New South Wales and Western Australia.
Finally, Artemis Resources (ASX:ARV) has dropped 20% to a trading price of $0.004 per share.
The company has not released any news to the market since 1 August, which addressed shareholders for an upcoming general meeting scheduled for 28 August 2025.
Artemis Resources is a gold and copper explorer focused on developing its portfolio of projects in the Pilbara region of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Riversgold
