On the back of yesterday’s news, several junior explorers ended the day on a high note, including Forrestania Resources (ASX:FRS) which saw its share price skyrocket almost 290%.
Forrestania announced it was entering into the iron ore space via an option agreement to acquire privately held Netley Minerals, which owns a number of iron ore licences in Western Australia.
The company’s share price was previously trading at $0.019 and surged to $0.074 following yesterday’s announcement. By 2:30pm AEST, it had lost some of those gains, but was still up more than 160% to $0.050 per share.
Gold explorer Falcon Metals’ (ASX:FAL) share price soared 69.75% to $0.27, following a mineral sands discovery at its wholly owned Farrelly prospect in Victoria.
Falcon, which has a market capitalisation of $28.32 million, conducted an aircore drilling program which confirmed Farrelly as a “high-grade” mineral sands discovery with a thick zone of mineralisation covering 1,200m.
Kincora Copper (ASX:KCC) has also seen a sudden share price increase by 58.33% to $0.057, following an earn-in deal with AngloGold Ashanti (NYSE:AU).
Kincora has given AngloGold the opportunity to earn up to an 80% stake in its Northern Junee-Narromine Belt Project in New South Wales by spending up to $50 million.
On the back of no news, battery metals-focused explorer and developer Morella Corporation’s (ASX:1MC) share price has spiked 50% to $0.003.
Laggards
Meanwhile, on this week’s laggards list is Sihayo Gold (ASX:SIH) — for the second time in a row — as the company’s share price falls 33.33%.
The company has not released any news since 24 May 2024, when Sihayo recommended shareholders to take no action regarding an off-market takeover offer by Provident Aurum.
Gold-focused explorer Riedel Resources’ (ASX:RIE) share price has also dropped 33.33% to $0.002. The company has not released any news since its quarterly report in April.
Catalina Resources (ASX:CTN) shares have dipped 25% to $0.003, while Admiralty Resources’ (ASX:ADY) share price has slid 20% to $0.008 — both on the back of no news.
Write to Aaliyah Rogan at Mining.com.au
Images: Forrestania Resources
