Rockets and Tanks: Oar notches 100% share price increase

Following the flood of Q1 2024 quarterlies on the ASX last week as companies scrambled to make the 30 April deadline, several junior explorers are seeing an increase in their market value.

Battery and critical minerals-focused Oar Resources’ (ASX:OAR) share price rocketed ahead and doubled to $0.002 yesterday (7 May 2024). 

On 30 April, the company released its quarterly report which outlined its strategic expansion into the Erongo uranium region of Namibia, as well as the testing in China of graphite samples from the Oar Project to develop a marketable product. 

Australia-based diversified explorer Admiralty Resources’ (ASX:ADY) share price advanced 50% to high of $0.012 yesterday, following the release of its quarterly report last week. 

During Q1, the company focused on advancing its flagship Mariposa Iron Project in Chile towards production amid continuing demand for iron ore. 

Rare earths and lithium explorer Odessa Minerals’ (ASX:ODE) share price gained 33% to $0.004, following its quarterly report announcement which highlights the company’s focus on accelerating its uranium targets at the Lyndon Project. 

Meanwhile, diversified mineral explorer Tempest Minerals (ASX:TEM) also rocketed by adding 25% to its share price, rising yesterday to $0.01. 

On 29 April, the company announced it had netted $1 million in proceeds after completing the sale of 2 million shares in Tolu Minerals (ASX:TOK).

Industrial minerals-focused explorer Heavy Minerals’ (ASX:HVY) share price rose 9.67% to $0.068, while tungsten producer Group 6 Metals (ASX:G6M) witnessed a 14.3% gain to $0.04 yesterday.

As previously reported, Heavy Minerals is expecting to complete the Port Gregory Garnet Project Prefeasibility Study in the second half of this year. 

Laggards list

Meanwhile, on the laggards list is Australian Potash (ASX:APC), which tanked 75% to $0.001 yesterday on no news. Over 204 million shares were traded on Tuesday. 

In early April, the company announced it had completed a capital raising of $2.98 million, which will be used for several activities including aircore drilling, as well as heritage and access agreements. 

Three mining companies experienced a 33.33% decrease in their respective share prices yesterday after releasing quarterly reports last week. 

Australia-based copper-nickel explorer Peak Minerals (ASX:PUA) closed yesterday at $0.002, while Javelin Minerals (ASX:JAV) and Mount Ridley Mines (ASX:MRD) both slipped to $0.001. 

Canada-focused lithium and uranium explorer Trinex Minerals’ (ASX:TX3) share price dropped 25% to $0.003. 

The company released its investor presentation for this week’s RIU Sydney Resources Round-Up conference, being held on 7-9 May 2024 at the Hyatt Regency Hotel, Darling Harbour. 

Managing Director Will Dix is presenting on the final day of the conference. 

Mining.com.au is an official media partner of the RIU Sydney Resources Round-Up conference. 

Write to Aaliyah Rogan at Mining.com.au   

Images: iStock & Heavy Minerals
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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.