Five ASX penny stocks that are delivering high returns

Summary

  • Today is the second day of the re-listing of MDK share and its price is up by a massive 124.3%.
  • Juno Minerals is a recent listing on the ASX and its stock is up by 20.5% to AU$0.205.
  • Carpentaria Resources has been trending since 12 May, after coming out of a trading halt.

As of 11:16 AM AEST, the ASX 200 is trading 0.36% up, at 7039.6, continuing its uptrend from Friday. Today’s rally has been supported by positive global cues, mainly from Wall Street.

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Apart from some frontline stocks that are lifting the index, there are a few penny stocks that are also gaining momentum in today’s session. Here’s a list of five such penny stocks.

  1. Mindax Limited (ASX:MDX)

On Friday, MDX share price got re-listed after it was suspended from the official quotation on 26 June 2019 as the company couldn’t adhere to the ASX Listing Rules 12.1 and 12.2. During that period, the company had been working to undertake actions necessary to satisfy compliance with these listing rules.

Today is the second day of re-listing of MDK share and its price is up by a massive 124.3% to AU$0.083 on the back of a high volume of over 59 million shares.

  1. Juno Minerals Limited (ASX:JNO)

Juno Minerals is a recent listing on the ASX, which marked its debut on Friday. The company successfully raised AU$3.9 million, adding to AU$5 million in seed capital, provided by parent company, Jupiter Mines Limited (ASX:JMS).

Image Source: ID 16316818 © Aniuszka | Megapixl.com

Today, the stock is up by 20.5% to AU$0.205 with a volume of 1.9 million shares, quite less than Friday’s volume of 10.8 million shares.

Read More: Jupiter Mines (ASX:JMS) hits over one-month low on delayed Juno Minerals IPO

  1. Argent Minerals Limited (ASX:ARD)

Today, Argent Minerals has commenced Stage 2 RC drilling at its 100%-owned Pine Ridge Gold Mine. The company will drill 20 new RC holes in the area of the historic Pine Ridge underground gold mine for a total depth of 2,390 metres.  

The commencement of RC drilling seems to have uplifted the investors’ sentiment, leading to a surge of 20.9% in ARD share price to AU$0.052.

Read More: NewPeak Metals (ASX:NPM) to Commence Drilling at NZ & Argentine Gold Projects in December

  1. Carpentaria Resources Limited (ASX:CAP)

Carpentaria Resources has been trending since 12 May, after coming out of a trading halt when the company announced is had reached a sale and purchase agreement with Pure Metals Pty Limited. Under the agreement, the company will acquire Pure Metals’ 24.149% stake in the Hawsons Iron Project.

Image Source: ID 10281406 © Aureli | Megapixl.com

Since 12 May, CAP share price has risen 200%, including today’s 19.3% gain to AU$0.135.

  1. Ausmon Resources Limited (ASX:AOA)

On Friday, the Minister had proposed to grant New Base Metals Pty Ltd, the company’s wholly owned subsidiary an exploration licence for 6 years with respect to its application, ELA 6242 McAlpine, near Tumut/Gundagai NSW.

Today, AOA share price has opened with a gap up of 16.6%, at AU$0.007, and still staring around the same level.

Read More: Palladium rockets to an all-time-high; here's what propelled its rally

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