5 ASX penny stocks that turned multi-bagger in one month

Highlights

  • Hannan's share price rallied a massive 170% over the last month.
  • Recently, Pan Asia Metals closed its oversubscribed Share Purchase Plan of AU$2 million, receiving over AU$2.5 million worth of applications.
  • Investors need to go through a robust risk management process while investing in penny stocks.

Penny stocks are the stocks of those companies which have a very small market capitalisation, often coming in the lowest range of small caps. Their share price often trades below a dollar value and are considered to be a high-risk venture.

ASX Penny stocks

Image Source: Copyright © 2021 Kalkine Media

However, this inherent higher risk allows investors to bag multi-bagger returns in a fairly short span of time. On that note, let us have a look at 5 ASX stocks that are up over a 100% in the last 30 days.

Read More: Five ASX penny stocks that closed in green today despite a broader market sell-off

  1. Hannans Limited (ASX:HNR)

Hannans is a mineral exploration company, having a market capitalisation of AU$70.7 million. The company’s share price has been on a tear since the management announced it had secured a significant opportunity to recover high-purity metals from scrap in the Nordic region.

It has signed an MOU (Memorandum of Association) with Critical Metals Limited to get rights to recover high-purity metals from scrap. The HNR share price rallied a massive 170% over the last month and last traded at AU$0.027 on Thursday.

  1. 92 Energy Limited (ASX:92E)

92 Energy has exposure to some of the highest-grade uranium districts in the world. After the company announced that it had intersected a zone of elevated radioactivity in its inaugural drilling program at the Gemini Project, its share price catapulted to greater heights.

The 92E share price has rallied over 206% in the last 30 days, with a major chunk of the gains coming after the company’s drilling update of its Gemini Project. The 92E share price closed at AU$0.76 on Wednesday.

  1. Alligator Energy Limited (ASX:AGE)

Alligator Energy is in the business of exploring metal resources along with uranium. Recently, the company completed the acquisition of EL6350 from Stellar Resources Limited. This acquisition will provide more exploration opportunities by consolidating the company’s holding of the Samphire Project area.

Alligator Energy acquires EL6350 from Stellar Resources Limited

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Alligator Energy is an AU$259.1-million company and has delivered a mind-boggling return of 173.33% in the last month. The AGE share price last traded at AU$ 0.082 on Thursday.

  1. Eastern Iron Limited (ASX:EFE)

Another exploration company on the list, Eastern Iron, is an AU$30.5-million miner that has delivered a return of 370% over the last 30 days. The catalyst behind the rally was the company’s strategic partnership with Ya Hua International Investment and Development Co. Limited to acquire and develop various lithium projects.

Eastern Iron rallied over 370% in the last 30 days

Image Source: Copyright © 2021 Kalkine Media

Yahua Group has a wide customer base, including prestigious names such as Tesla, BYD Auto, and holds a majority stake in Core Lithium Limited. The EFE share price last closed at AU$0.047 on Thursday.

  1. Pan Asia Metals Limited (ASX:PAM)

Pan Asia Metals is Singapore-headquartered specialty metals explorer and developer, with a market capitalisation of AU$66.5 million. On Monday, the company closed its oversubscribed Share Purchase Plan, receiving over AU$2.5 million worth of applications against the requirement of AU$2 million. 

On 1 September 2021, when the company announced its FY21 results, the stock surged over 53.03% on the same day. The last one-month return of the stock was 213.33% and the last closing price was AU$0.47.

Bottom Lime

In the last month, a few penny stocks have made their investors cheerful. However, these windfall profits are not a common occurrence, and investor needs to go through a robust risk management process while investing in penny stocks.

Related article: Five ASX penny stocks for dividend fans

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