AJL, FAR, RMI – ASX penny stocks with significant gains year to date

Highlights

• The S&P/ASX200 has lost 10.85% on a year-to-date (YTD) basis
• Penny stocks could be tomorrow's big winners, can provide you with rapid gains and are kind to your pocket
• AJL, FAR, and RMI are three penny stocks from the ASX that made the most gains for the YTD

The Australian Securities Exchange (ASX) benchmark, the S&P/ASX200, is in the green on Monday gaining 31.00 points or 0.47% to 6,636.60. The index has gained 0.52% over the last five days but lost 10.85%% for the year to date (YTD).

This article will discuss three penny stocks from the ASX with significant gains in the year to date.

In the ASX, penny stocks are generally those stocks trading below AU$1. There are ultimate benefits as well as risks of investing in penny stocks. On the one hand, these stocks could be tomorrow's big winners, provide you with rapid gains and may be kind to your pocket. On the other hand, penny stocks are volatile and prone to scams. They are generally issued by small companies that lack a track record. AJL, FAR, and RMI are three penny stocks from the ASX that made the most gains this YTD.

AJ Lucas Group Ltd (ASX: AJL)

AJ Lucas Group provides specialist energy, mining and infrastructure services. The company's divisions include:

• Lucas Drilling - consists of a drilling business based in Australia
• UK Oil and Gas Investments – carries out the business and exploration of hydrocarbons in the UK

In the half-year ended 31 December 2021, the company's revenue dropped 1.1% to AU$60.64 million (2021H1: $61.31 million) due to delays and issues at client mines.

The share price of AJL has gained 108.82% YTD.

FAR Ltd (ASX: FAR)

FAR Limited specialises in developing and exploring oil and gas. It has high-worth assets in West Africa and Australia and holds a portfolio of exploration licences in West Africa.

Following are the developments for the quarter ended 31 March 2022:

• Ongoing measures of cost saving
• The company is contemplating transaction strategies to maximise the value of its drilling investment in The Gambia
• Ended the quarter with cash of US$39.9 million

FAR has provided nearly 114.28% price return to its investors on a YTD basis.

Resource Mining Corporation Ltd (ASX: RMI)

Resource Mining Corporation is driven by its mission to gain wealth from mineral commodities. It is an Australia-based mineral resource company.

Last month, the company started its first drilling program in Tanzania. It is the Kabulwanyele Nickel Project. The program consists of 18 RC holes summing up to 1,000m, which are testing a 2 km strike abnormality identified from the previous soil and rock sampling program. The holes have been designed to provide geological data that will help the company understand the genetic model for mineralisation.

The share price of RMI has gained about 269.23% YTD.