The materials sector on the ASX has fallen 1.69% today (24 September) after jumping 2.06% yesterday, though the decline has not stopped some junior explorers from seeing share price gains.
Viking Mines (ASX:VKA) has increased its share price by 16.6% today after the company announced that its tungsten assays confirmed the Linka Project in Nevada, US, to host thick intercepts.
Tungsten mineralisation is reported to occur both above and below historical workings at Linka.
The company is now trading at $0.014 per share, with 2.51 billion shares on issue and a market capitalisation of $30.15 million.
Viking Mines is an Australian exploration and development company advancing a portfolio of tungsten and battery metals across Australia and the US.
Meanwhile, Aguia Resources (ASX:AGR) is also performing higher on the bourse today, with an 8.33% share price increase.
The company is now issuing shares at $0.013 each, alongside 2.4 billion shares on issue and a market capitalisation of $28.8 million.
Earlier this week, the company announced that it has stockpiled around 22,680 tonnes of pre-processed phosphate ore and secured potential orders totalling approximately 9,979 tonnes across five customers from its Três Estradas Project in Brazil.
On the S&P/ASX 200, the index has lost 74 points, with nine of 11 sectors performing lower.
Mining companies with the highest declines include Catalyst Metals (ASX:CYL) and Liontown (ASX:LTR).
Write to Maddison Elliott at Mining.com.au
Main Image: iStock
