A look at four penny stocks on the move this year

October 09, 2022 11:00 AM AEDT | By Aditi Sarkar

Lindian Resources Ltd (ASX:LIN)

Lindian Resources’ FY22 was marked by its pursuit of building a multiasset portfolio of world-class resource projects. The ASX-listed company has a portfolio of high-grade bauxite assets on Africa's west and east coasts. At present, the company is focused on the Gaoual Bauxite Project in Guinea.

In FY22, the company accomplished 100% acquisition of the Kangankunde Project, which is a globally significant rare earth deposit in Malawi. The company boosted its development plans via two placements during the year, raising AU$1 million in November 2021 and AU$2 million in the second half of 2022.

Tyranna Resources Ltd (ASX:TYX)

The major pursuits of Tyranna Resources in FY22 were project development and mineral exploration. Below are listed some of the highlights of the battery and critical minerals explorer for FY22 and the subsequent period:

Acquired 80% interest in Angolan Minerals Pty Ltd.
Announced assay results from the Namibe Lithium Project that showed increased concentrations of lithium (Li), caesium (Cs), tantalum (Ta), and elevated rubidium (Rb) and tin (Sn). As per the company, its short-term goal will be defining drill targets intending to start drilling as soon as possible.
Completed a ground magnetic survey within tenement E37/1353 to identify potential gold-mineralised host structures.
Sold the Jumbuck Gold Project to Marmota Ltd.

Cardno Ltd (ASX:CDD)

Cardno is a company specialising in developing physical and social infrastructure for communities in different regions of the world. It has operations in over 100 countries. During the financial year 2022, the group's focus was on executing the results of the board's planned review. This included divesting the International Development business and the Asia Pacific and Americas consulting divisions.

Data source: company update
© 2022 Kalkine Media®

Resource Mining Corporation Ltd (ASX:RMI)

RMI is steered by its mission to generate wealth from mineral commodities by utilising innovative technical, marketing, and financial skills. The following are the key milestones achieved by the company in FY22:

Data source: company update
© 2022 Kalkine Media®

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.