Lately, 3 small-cap stocks in the resource sector took charge on the ASX with a high run-up in a single day of trading. These have been highlighted herein below.
Great Boulder Resources Limited (ASX: GBR) is under metals and mining sector and is engaged into mineral exploration while gold is the key focus. The group traded at a market price of $0.500 with a daily price change of $0.110 and a percentage change of 28.205% on August 03, 2018 while the stock initially slipped by 2% on August 06, 2018 in early trade before again starting rising. The stock has seen a performance change of 327.3% over the past 12 months. The Great Boulder Resources has recently announced about the extensive sulphide mineralization intersected at the initial drill holes at the Eastern Mafic complex, 130km east from Laverton in WA. Extensive zones of massive sulphide mineralization have been found to be intersected within the core of the intrusion and along interpreted feeder structures. This has confirmed the Eastern Mafic, to be a substantial magmatic sulphide system, where the mineralization intersected over 5km in strike length.
Winchester Energy Limited (ASX: WEL) is under the energy sector with a focus on Thomas 119-1H well and working interests in the oil and gas mineral rights in Mcleod and Arlege and Cisco Sand oil field. The stock was up with a daily price change of $0.005 and a percentage change of 16.667% to $0.035 as at August 06, 2018. The stock has seen a decline of -56.25% over the past 12 months but has gone up by 45.8% in the last 1 month. For the June 2018 quarter, Winchester Energy Ltd.’s gross oil production was 12,660 barrels of oil. Company’s total revenue was US $357,807 out of which total gas sales revenue was US $20,715 and total oil revenue was US $337,092. The average sale price per barrel of oil was US$63.16 and gas was $4.43 per mcf. The Company plans to move up-hole to focus on the oil-bearing fry/strawn formation in which encouraging oil shows were observed whilst drilling, following the completion and production testing of the horizontal lateral well in White Hat 39, in the Ellenburger Formation, which is currently underway. The stock was trading flat as at market open on August 06, 2018.
Okapi Resources Limited (ASX: OKR) is another small-cap resource stock that was trading at a market price of $0.230 and has seen a daily price change of $0.030 or a percentage change of 15% on August 03, 2018. The overall decline for the stock is -31.34% since October 2017. An anomalous gold result of up to 0.93 g/t gold was reported. 500 samples are now with ALS Laboratories in South Africa for multi chemical analysis and Stage 2 soils sampling program has been completed late in the June quarter. With end of quarter cash reserves of $4.9 Million, Okapi remains well funded. The Crackerjack project work is completed. To earn up to a 70% equity right in up to three mineral exploration licences, Okapi executed an Option Agreement with local vendor, Rubamin FZC and referred to as the Katanga Cobalt-Copper Project.
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