Which ASX penny stocks are making a splash today?

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Which ASX penny stocks are making a splash today?

 Which ASX penny stocks are making a splash today?
Image source: ShutterstockProfessional, Shutterstock.com

Summary

  • On Wednesday, Cycliq Group received a claim of US$393,924.25 plus other ancillary relief including interest and costs.
  • Rimfire Pacific has entered into Earn-in and Joint Venture agreements with Golden Plains Resources Pty Ltd.
  • On Thursday, Bathurst Resources had confirmed that it will exceed the FY21 EBITDA guidance of AU$55.4 million.

On the last day of the week, the Australian benchmark index seems to have taken a breather from the losing streak of the last two days. As of noon, the ASX 200 is trading 0.24% up, at 7292.7. The market breadth is almost in the middle, with 6 out of 11 sectors trading higher today.

Image Source: Copyright © 2021 Kalkine Media

With the market looking relatively stable today, let’s have a look at five penny stocks that are delivering decent gains going into the weekend.

Read More: Which are the 20 hottest fully franked dividend stocks?

  1. Cycliq Group Limited (ASX:CYQ)

Cycliq Group is a smart safety company and the manufacturer of the world’s first cycling light and camera safety systems. On Wednesday, the company received a claim brought by Glory Horse Investment Holdings Limited. The claim was issued out of the High Court of Hong Kong Special Administrative Region Court of First Instance and seeks the sum of US$393,924.25 plus other ancillary relief including interest and costs. Today, the CYQ share price is trading 100% up, at AU$0.002.

  1. Rimfire Pacific Mining NL (ASX:RIM)

Today, Rimfire Pacific has announced that it has entered into Earn-in and Joint Venture agreements with Golden Plains Resources Pty Ltd. (GPR), covering Rimfires’ 100%-owned Avondale Project in the Lachlan Fold Belt, NSW.

Image Source: Copyright © 2021 Kalkine Media

GPR has committed to the payment of AU$1.0 million to fund exploration activities in the first year of the agreement. After the development, the RIM share price has shot up 28.5% to AU$0.009.

  1. Nagambie Resources Limited (ASX:NAG)

The NAG share price has skyrocketed over 21% to AU$0.085, clocking a volume of over 1.1 million shares, which is the highest one-day volume recorded since 1 April. The catalyst behind the rally is the company’s application for a planning permit from the Strathbogie Shire to construct and operate a 180,000 tonnes per annum gold toll treatment plant at the Nagambie Mine.

On Thursday, the Strathbogie Shire started advertising the planning permit application until 15 July 2021.

  1. Weebit Nano Limited (ASX:WEB)

Weebit Nano is a leading developer of next-generation semiconductor memory technologies. The company has announced that it has created the industry’s first commercial integration of an oxide-based ReRAM cell with an ovonic threshold switching selector.

This achievement is a significant step towards broadening Weebit’s target market beyond embedded non-volatile memory segment. After the announcement, the WEB share price surged over 23% to AU$1.95.

  1. Bathurst Resources Limited (ASX:BRL)

On Thursday, Bathurst Resources had confirmed that it will exceed the FY21 EBITDA guidance of AU$55.4 million. This reflects the robust pricing environment for a premium product in Bathrust Resources’ export markets.

Image Source: Copyright © 2021 Kalkine Media

Since Thursday, the BRL share price has been rallying, notching up a gain of 50%, including today’s 25% gain to AU$0.045.

Read More: How do I start trading penny stocks in Australia?

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