In this week’s Rockets and Tanks, there was a lot of movement among the junior exploration sector on Friday, including Resolution Minerals (ASX:RML) and Nelson Resources (ASX:NES), which both saw a 33.33% increase in share prices.
Resolution Minerals, whose share price was trading at $0.002, is a mineral explorer engaged in the acquisition, exploration, and development of precious and battery metals, including gold, copper, cobalt, and uranium.
Nelson Resources, whose share price was trading at $0.004, is a gold-focused explorer with a portfolio of 1,641km2 of wholly owned projects in Western Australia.
Megado Minerals’ (ASX:MEG) share price also spiked 27.27%, moving up to $0.014.
On 11 September, the company announced its half yearly reports ending 30 June 2024, revealing it had $700,833 in cash and cash equivalents at hand.
EMetals’ (ASX:EMT) share price also increased 25% $0.005, after announcing fieldwork results received from the Mubende Gold Project in Uganda.
The company received sampling results up to 29.1 grams per tonne gold and also defined an anomalous zone across a 1,200m strike length, which remains open along strike in both directions.
Tanks
On the other end of the scale, Alderan Resources (ASX:AL8) saw a 33.33% decrease in its share price to $0.002.
On 12 September, the company announced its non-renounceable pro-rata entitlement offer will close on 24 September 2024.
Under the offer, which aims to raise $1.27 million, investors can subscribe for one new share for every two shares held, with one free attaching option for every four new shares applied for and issued.
The funds will be used for a stage one drilling program at the New Years prospect, within the Cactus Copper-Gold Project in the US.
Enova Mining’s (ASX:ENV) share price decreased 26.66% to $0.011, after announcing up to 4,447 parts per million total rare earth oxide assay results from the CODA North Project in Brazil.
CEO Eric Vesel says the results from the first four holes underscore the value of these tenements.
“I am particularly excited about the progress we have made at CODA, where the footprint of mineralisation is extensive, and the drillholes are consistently extending through potential high-grade rare earths zones,” Vessel says.
“We are gathering samples for metallurgical testing, a crucial step to advancing our project.”
Meanwhile, Austin Metals (ASX:AYT) saw its share price drop 20% to $0.004 on the back of no news.
Austin Metals is a precious and base metals-focused explorer that owns its namesake gold project in the Murchison greenstone province of Western Australia.
Eastern Resources’ (ASX:EFE) share price decreased 20% to $0.004.
The company is a diversified mineral explorer currently progressing an iron and copper project in Victoria, and four lithium projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Nelson Resources
