Five penny stocks making big moves today

Summary

  • Audalia Resources reported cash and cash equivalents of AU$162,000 in the quarter ended 31 March.
  • Alchemy Resources has completed phase one Reverse Circulation drilling at Alchemy’s Karonie Gold Project.
  • Vita Life Sciences’ shares surged 21.4% on 1HFY21 guidance.

As of 11:22 AM AEST, the ASX 200 is trading 0.88% up, at 7156.8. With today’s rally, the market is just a few points away from breaching its 52-week high of 7172.8. As the market is on the rise, the VIX index has fallen by 2.91% to 11.29.

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The market breadth has also been on the stronger side, with 9 out of 11 sectors marking positive return for the day. With that being said, let’s have a look at some smaller companies or penny stocks that are making killer moves in today’s session.

  1. Audalia Resources Limited (ASX:ACP)

Audalia Resources, which owns the Medcalf Vanadium/Titanium Project located near the premier Lake Johnston, has announced its quarterly report for the period ended 31 March 2021. It reported cash and cash equivalents of AU$162,000, compared to AU$479,000 in the previous quarter

During the quarter, the company rehabilitated 38 drill sites from previous exploration and evaluation work.

The ACP share price has delivered a 54.8% return today, surging to AU$0.048, clocking a volume of over 2.6 million shares.

                       

The Penny Picks || ASX 200 Charged-up; Penny Players Making A Splash

 

  1. Traka Resources Limited (ASX:TKL)

Without any major announcement, today, the TKL share price unexpectedly surged to AU$0.021, delivering a massive 47.6% move before going into a trading halt. Till the last trade, a total of 13.9 million shares changed hands which is the highest one-day volume since 15 February.

The company had requested the ASX to halt its securities from trading till the company makes an announcement on the ASX regarding this seemingly suspicious trading activity.

Read More: Why Traka Resources (ASX:TKL) Soared ~59% in Today’s Session?

  1. Alchemy Resources Limited (ASX:ALY)

Another miner on the list, Alchemy Resources has completed its phase one Reverse Circulation drilling at Alchemy’s Karonie Gold Project. The drilling tested high-priority “Karonie” style targets, immediately along strike to the north and south of Silver Lake Resources Ltd’s (ASX:SLR) Aldiss Mining Centre. All RC drill samples have been submitted to ALS Kalgoorlie.

Image Source: Megapixl.com

On the completion of the phase one RC drilling, the ALY share price has notched up a gain of 26.6% to AU$0.019.

  1. Variscan Mines Limited (ASX:VAR)

On 25 May, Variscan Mines announced that it had discovered new high-grade mineralised lenses above and below the mine stopes in the Central Zone of the San Jose Mine. It reinforces the conceptual model of San Jose as a multi-layered orebody, consisting of multiple vertically stacked and flat-lying lenses and suggests significant potential for discovering additional lenses.

Since then, the VAR share price had been trending up and today, it is up17.4% to AU$0.068.

Read More: Variscan Mines Strikes High-Grade Zinc Mineralisation in Continuing Drilling Programme

  1. Vita Life Sciences Limited (ASX:VLS)

Vita Life Sciences is a healthcare company, producing wide range of supplements, herbs, etc. Today, the company released its guidance for the half year ending 30 June 2021. The management is expecting AU$23.5 million - AU$24.5 million worth of sales in 1H FY21 and Pre-tax Profit in the range of AU$4 million – AU$4.5 million.

Image Source: Megapixl.com

The guidance seems to have uplifted investors’ confidence, pushing the VLS share price 21.4% higher to AU$1.19.

Read More: Three ASX shares for dividend income

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