Five penny stocks outperforming the ASX 200

Summary

  • The STK share price has risen by 31.8% to AU$0.029 from the previous closing of AU$0.022.
  • Today, WCN’s share price made a 35% move, breaching all the major resistances on its way up.
  • The OAU share price soared 9.5% to AU$0.023 in today’s session, clocking a volume of 717K shares so far.

As of 11:08 AM AEST, the ASX 200 is trading with an uptick of a mere 0.05%, indicating a non-trending day so far. However, the benchmark index seems to continue its yesterday’s uptrend with no selling pressure during the opening hours.

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The other broader market indices such as ASX 20 and ASX 50 are also trading in green. The overall trend seems to favour the bulls again. Going with the trend, let’s have a look at a few of uptrending penny stocks for the day.

  1. Great Boulder Resources Limited (ASX:GBR)

GBR is turning out to be the investors’ favourite penny stock of the month. The stock skyrocketed by a massive 80.4% on Tuesday, and today by another 46.9% to AU$0.12; that’s a massive gain of over 160% in just two trading sessions.

The company announce initial results from RC drilling at the Mulga Bill prospect. The RC drilling undertaken beneath a high-grade air-core drilling intersection in hole 21MBAC022 returned an extremely high-grade zone of 6m @ 31.2g/t Au from 130m in hole 21MBRC002. According to the management, to hit six metres at over an ounce per tonne below this zone is a “sensational result”.

Read More: Here’s Why Great Boulder Resources (ASX:GBR) Ended Session 20% Up

  1. Strickland Metals Limited (ASX:STK)

The company’s share price has risen by 31.8% to AU$0.029 from the previous closing of AU$0.022. The surge was on the back of Silver Lake Resources Limited (ASX:SLR) accepting the company’s binding offer for the purchase of its 37% interest in the Horse Well Joint Venture for total cash consideration of AU$1.75 million. After the deal, Strickland will become the sole owner of the Horse Well tenement.

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On the back of the volume of 9.33 million shares, the stock has risen to its highest level since 16 February.

  1. White Cliff Minerals Limited (ASX:WCN)

On Monday, WCN had released its quarterly update for the period ended 31 March 2021. During the reported period, the company completed soil and rock geochemistry sampling over the new priority prospects; Reedy Extended, Cracker Jack, McCaskill Hill, Robin Well and Nallan. It ended the quarter with a strong position with cash of AU$2.35 million.

Today, the WCN share price has made a 35% jump, and breached all the major resistances, reaching AU$0.027 –  the highest level since 28 January 2021.

Read More: White Cliff reports maiden nickel-cobalt resource at Ghan Well

  1. Ora Gold Limited (ASX:OAU)

The OAU share price moved up by 9.5% to AU$0.023 in today’s session, clocking a volume of 717K shares so far.

Today, the company got one step closer to resource definition at the Lydia Gold project. Gold intersections have been discovered, demonstrating the high potential of shallow supergene gold mineralisation above previously identified deeper primary gold mineralisation. The management is excited by the potential of the Lydia Prospect to develop into a resource with shallow as well as deeper zones.

  1. BBX Minerals (ASX:BBX)

The BBX share price has been trending for last two days. It has delivered a total return of over 40% in three trading session, including today’s 12.3% gain. The stock is trading at AU$0.365 and has clocked an above average volume of over 540K shares.

Image Source: Copyright © 2021 Kalkine Media Pty Ltd.

The catalyst behind today’s rally is the company’s corporate presentation. The company’s portfolio of Ema Gold Project, Três Estados Gold Project and Juma East spans over 34,044.16 hectares and is known for favourable geological settings. It also affirmed that BBX has the potential to be the first to reach an effective solution to a complex metallurgy problem.

Read More: BBX Minerals’ Shares Surged Over 30% On ASX Post Announcement Of IPHAN & IPAAM Permitting Approvals


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