Small-Cap Resources Sector Stocks With Recent Updates- NCZ, NVA, COI, MEI, RFR, MMR

Small-Cap Resources Sector Stocks With Recent Updates- NCZ, NVA, COI, MEI, RFR, MMR

Resources sector is an important contributor to the Australia’s Economy, in terms of job creation, investments, tax revenues, etc. Let’s have a look at six small cap resources sector stocks along with recent updates: New Century Resources Limited (ASX: NCZ), Nova Minerals Limited (ASX: NVA), Comet Ridge Limited (ASX: COI), Meteoric Resources NL (ASX: MEI), Rafaella Resources Ltd. (ASX: RFR) and MEC Resources Limited (ASX: MMR).

New Century Resources Limited (ASX: NCZ)

New Century Resources Limited (ASX: NCZ) recently announced the initiation of slurry commissioning of cleaners 2B, 3B and 4B, following which full cleaner circuitry of the processing plant will be incorporated into the operations for the first time. The completion of initial refurbishment activities for the full cleaner circuit was due in August 2019. As per the release, the circuit upgrade was delivered on schedule and budget, with the achievement representing the first significant milestone of the scheduled ramp up to 12 Mtpa operations over FY20. Once slurry commissioning and initial optimisation of the full cleaner circuit is further advanced, the company is expected to provide an update on operational progress in around 1 month.

Cleaners 2B, 3B and 4B online at the Century Zinc Mine (Source: Company Reports)

On the stock information front

On August 12, New Century Resources settled the day’s trade at $0.290 down 1.695%, with the market cap of ~$170.98 Mn. Its day’s high, day’s low and daily average volume stood at $0.315, $0.290 and 2,176,964respectively. Its 52 weeks high, 52 weeks low and an annual average volume stood at $1.392, $0.270 and 2,198,013, respectively. It has generated an absolute return of -75.52% for the last one year, -56.30% for the last six months, and -59.03% for the last three months.

Nova Minerals Limited (ASX: NVA)

Nova Minerals Limited (ASX: NVA) recently announced the completion of a preliminary resource drilling program on time and under budget, at its District Scale Estelle Gold Project in Alaska. NVA is satisfied with the results, and the prospects which provide additional gold resources with significant growth potential are:

  • Oxide South
  • Oxide North
  • RPM
  • Shoeshine and Revelation

Permitting area of initial interest (Source: Company  Reports)

On the stock information front

On August 12, Nova Minerals Limited settled the day’s trade at $0.033 up 10 %, with an oustanding market cap of ~$27.74 Mn. Its day’s high, day’s low and daily average volume stood at $0.035, $0.029 and 8,076,941, respectively. Its 52 weeks high, 52 weeks low and an annual average volume stood at $0.035, $0.013 and 2,502,276, respectively.

Comet Ridge Limited (ASX: COI)

Comet Ridge Limited (ASX: COI) recently updated the market about its drilling operations at the Albany 2 Well in the Galilee Basin, which is a part of the Galilee Deeps Joint Venture 2019 drilling programme with Vintage Energy Limited (ASX: VEN). The spudding, coring and logging operations are expected to take 31 days with planned total depth of the well at 2752 meters.

The Albany 2 surface location is 7.5km southeast of the Albany 1 Well which was drilled by the GDJV in 2018 and produced a stabilised gas flow of 0.23 MMscfd (million standard cubic feet per day).

Location of the Albany 2 Well, with the Albany 1 and Carmichael 1 wells (Source: Company Reports)

On the stock information front

On August 12, Comet Ridge Limited settled the day’s trade at $0.265, with an outstanding  market cap of ~$192.89 Mn. Its day’s high, day’s low and daily average volume stood at $0.265, $0.265 and 226,363, respectively. Its 52 weeks high, 52 weeks low and an annual average volume stood at $0.395, $0.230 and 343,954, respectively. The stock has generated an absolute return of -28.38% for the last one year, -26.39% for the last six months, and -10.17% for the last three months.

Meteoric Resources NL (ASX: MEI)

Meteoric Resources NL (ASX: MEI) recently announced its $2.7 Mn placement to a small number of strategic investors, to accelerate exploration program at Juruena & Novo Astro, comprising two exploration teams working concurrently on the two projects. The Placement is expected to raise $2.7 Mn (before costs) through the issuance of 84,375,000 new shares at an issue price of $0.032 per share, with CPS Capital as a lead manager. The issue price has been calculated at an 8.4% premium to the 30-day VWAP and a 3% discount to the 10-day VWAP up to and including 8 August 2019.

June ’19 Quarter Operating Cash Flow Statement (Source: Company Reports)

On the stock information front

On August 12, Meteoric Resources NL settled the day’s trade at $0.041, up 2.5%, with outstanding market cap of ~$35.56 Mn. Its day’s high, day’s low and daily average volume stood at $0.042, $0.035 and 14,829,337, respectively. Its 52 weeks high, 52 weeks low and an annual average volume stood at $0.043, $0.007 and 5,223,056, respectively. The stock has generated an absolute return of 25.00% for the last one year, 344.44% for the last six months, and 185.71% for the last three months.

Rafaella Resources Ltd. (ASX: RFR)

Rafaella Resources Ltd. (ASX: RFR) recently announced that its shareholders have approved the acquisition of Galicia Tin & Tungsten SL. The acquisition is transformational for Rafaella, which will move from being an explorer of gold and copper to a developer of the fully permitted brownfield tungsten and tin Santa Comba mine. The scrip-based acquisition is being accompanied by a $2.6 million capital raise of which Transamine Holdings and Investments has already committed $1 million. Post-acquisition, two GTT representatives will join Rafaella’s Board amid a restructure of Rafaella’s leadership.

 

Santa Comba Tungsten – Tin Project (Source: Company Reports)

On the stock information front

On August 12, Rafaella Resources Ltd. settled the day’s trade at $0.185, with the market cap of ~$6.85 Mn. Its 52 weeks high and an annual average volume stood at $0.205 and 297,085, respectively. It has generated an absolute return of -2.70% for the last one year, 111.76% for the last six months, and 125.00% for the last three months.

MEC Resources Limited (ASX: MMR)

Share of MEC Resources Limited (ASX: MMR) surged by 80% post announcement of settlement of legal matters between MEC Resources and BPH Energy Limited, Grandbridge Limited, Trandcorp Pty Ltd and David Breeze. The terms of settlement are recorded in a deed of settlement, to which MEC’s 53%-owned subsidiary Advent Energy Pty Ltd is also a party. The directors of MEC Resources have agreed to resolve the continual disputes which have impeded the progress of both MEC Resources and Advent Energy over the period since November 2016, and the resultant series of expensive and value-destructive legal actions. As a result of the settlement, both companies should now be free to pursue commercial activities intended to generate value for shareholders.

June ’19 Quarter Operating Cash Flow Statement (Source: Company Reports)

On the stock information front

On August 12, MEC Resources Limited settled the day’s trade at $0.009, with the market cap of ~$5.56 Mn. Its day’s high, day’s low and daily average volume stood at $0.009, $0.005 and 947,816, respectively.  Its 52 weeks high, 52 weeks low and an annual average volume stood at $0.015, $0.004 and 238,562, respectively. It has generated an absolute return of -84.44% for the last five years, -56.04% for the last one year and -38.46% for the last six months.


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