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Highlights
- 4DS Memory shares surged20.69% on Monday after the company reported significantly better megabit array results.
- Wildcat Resources’ shares increased by almost 80% as it discovered major lithium mineralisation at its Tabba Tabba project.
- At TabbaTabba project, further assay results are expected in coming months.
Australian equity market benchmark index, S&P/ASX 200 (INDEXASX: XJO), closed 0.67% lower at 7,230.40 points on 18 September 2023, with all significant sectors ending today’s session in red. However, two penny stocks, 4DS Memory Limited (ASX: 4DS) and Wildcat Resources Limited (ASX:WC8), raced higher and outperformed the benchmark index by a wide margin.
Here’s the reason why these two penny stocks surged on Monday.
4DS Memory Limited (ASX:4DS)
A semiconductor development firm of non-volatile memory technology, 4DS was established in 2007 and presently owns 33 US-granted patents with one patent pending for its intellectual property.
Today, 4DS shares closed 20.69% higher at AU$0.175 apiece. Including today’s gain, 4DS shares have surged by 165.15% in one month and zoomed by 372.97% in the past six months. The 52-week high of 4DS is AU$0.215 apiece, and the 52-week low is AU$0.024 apiece.
Today’s share price movement in 4DS could have been driven by the significant results concerning its random-access memory cells in the megabit array.
The company today (18 September 2023) informed that it has concluded an additional analysis of the Fourth Platform Lot, and the results received are substantially better than the previously reported results (on 23 August 2023). The analysis indicates that 4DS has –
4DS intends to conduct further analysis to assess the upper limit of endurance and read/write characteristics for further improvement of the platform.
Wildcat Resources Limited (ASX:WC8)
Wildcat is a mineral explorer that manages four projects: Tabba Tabba Lithium- Tantalum project, Bolt Cutter Lithium project, Bolt Cutter Gold project and Mt Adrah Gold project. Today, the WC8 share price significantly rose after the company reported a major lithium discovery at Tabba Tabba, WA.
The company has shared the initial assay results from the maiden drilling across 21 RC holes at the Tabba Tabba project. The initial results have confirmed the presence of high-grade lithium mineralisation from the surface in central and northern pegmatite clusters, projecting lithium camp potential. Here are the detailed significant results –
The company highlighted that assay is pending for more than 66 holes, with drilling continuing in prospective areas. Over the coming months, further assay results are expected.
According to an ASX update, the company will deploy a diamond drill rig at the beginning of October 2023 to fuel the assessment of new discoveries.
Further, the company aims at gaining FIRB approval, advance early-stage studies to assists evaluation and permitting and focus RC drill rigs on the priority areas.
WC8 shares closed almost 80% up at AU$0.43 apiece on Monday. Including this, WC8 shares have increased by a whopping 1,492.60% in the past nine months and recorded a gain of 975% in the last 12 months. The 52-week range of WC8 is AU$0.023 – 0.049 apiece.
