3 Stocks Charged Up On ASX - LKE, KZR, NUS

The below-mentioned mining stocks have witnessed a significant uplift in their share price during today’s day trade. Let’s look at how the stocks have performed lately.

Lake Resources N.L. (ASX: LKE)

A lithium exploration and development company Lake Resources N.L. (ASX: LKE) today announced that high fluid flows of conductive brines under pressure have been intercepted at 261m depth, with high conductivities of 284 mS/cm, at Lake’s Cauchari Lithium Brine Project, Argentina, which is an encouraging news for the company and its shareholders.

Following the release of this news, the share price of the company increased by 53.846% during the intraday trade.

The company is expecting that the Cauchari project will replicate the success of similar projects. LKE is drilling in the same basin with similar brines and therefore is expecting better results at depth.

Location of LKE’s drill operations at Cauchari in relation to Advantage Lithium/Orocobre & Gangfeng/Lithium Americas leases (Source: company Reports)

In the last six months, the company’ stock has provided a negative return of 54.78% as on 30th May 2019. LKE’s shares last traded at $0.080, with a market capitalisation of circa $20.39 million as on 31st May 2019.

Kalamazoo Resources Limited (ASX: KZR)

A progressive gold and base metals explorer and developer, Kalamazoo Resources Limited (ASX: KZR) is making solid progress with the development of its Victorian Gold Projects. At the Castlemaine Gold Project, the company identified a large number of prospects for follow-up exploration activities and at the South Muckleford Gold Project, the company has lodged a new Exploration Licence Application EL006959, which is covering the highly prospective regional Muckleford Fault and adjacent historical workings to the west as well as the southern strike extent of the Union Hill Gold Mine. At the Tarnagulla Gold Project, Kalamazoo Resources Limited was granted Exploration Licence EL006780, situated within the historic and highly prospective, Tarnagulla goldfield.

Today, the company’s shares surged over 30% as compared to last day close.

In the last six months, the company’ stock has provided a negative return of 4.76% as on 29th May 2019. The stock of KZR last traded at $0.130, with a market capitalisation of circa $8.95 million as on 31st May 2019.

Nusantara Resources Limited (ASX: NUS)

Nusantara Resources Limited (ASX: NUS) today held its Annual General Meeting (AGM), at which six resolutions were passed by a show of hands.

AGM Results (Source: Company Reports)

In the recent past, the company has made solid progress in the development of its Awak Mas Gold Project, which includes delivering a comprehensive Definitive Feasibility Study (DFS), receiving key permits, and introducing Indika Energy as the company’s strategic partner.

Awak Mas Timeline & value proposition (Source: Company Reports)

In December 2018, the company executed a Relationship Deed with Indika Energy that provides a framework for Indika Energy and Nusantara to work together towards exploring avenues for the financing and development of the Awak Mas Gold Project and making provision for Indika Energy to further acquire an interest in the Awak Mas Gold Project, including at the project level.

In the last six months, the company’ stock has provided a negative return of 11.76% as on 29th May 2019. The stock of NUS last traded at $0.190, with a market capitalisation of circa $25.17 million as on 31st May 2019.


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