RAS, DAF, BBX: Metal and Mineral – explorer penny stocks in focus

May 23, 2022 07:11 PM AEST | By Shivani Joshi

RAS, DAF, BBX: Metal and Mineral – explorer penny stocks in focus — Image source: © Velvetweb | Megapixl.com

Also Read: ASX 200 defies Asian markets, closes higher backed by materials

Ragusa Minerals Limited (ASX:RAS)

Ragusa Minerals Limited is an ASX-listed company that explores mineral properties. The company has primary interest in gold, and it is focused on identifying gold deposits. The shares of the company were doing well today. The spurt in its share price came in the light of the company announcing a project acquisition. The share price of the company ended 25% up at AU$0.100 per share today. The company has a Market Capitalisation of AU$10.23 million.

Discovery Alaska Limited (ASX:DAF)

The shares of this mineral exploration company were also trading in the green zone today. They were in consonance with the Metals and Mining Index. The shares closed27.692% higher at AU$0.083 per share. The company provided an update today, wherein it confirmed the presence of lithium at its project’s sight. The surge in share price came in the light of that development.

BBX Minerals Limited (ASX:BBX)

It is an ASX-listed precious metal resource development and technology company. The company’s shares closed 16.666% higher at AU$0.105 per share. The shares were doing tremendously well in the absence of any new announcements made. Its last update came in the month of April. The company has a market capitalisation of AU$41.40 million.

Conclusion
It is extremely crucial for all investors to note that it is not wise to fall for windfall profits from these penny stocks as these stocks are highly volatile in nature and may nosedive at the same pace if not more. Therefore, before investing in penny stocks, investors must do proper due diligence.

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