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Highlights
- The stability of metal prices is crucial for the economy as an exponential rise in metal prices may disturb the demand-supply balance and put inflationary pressure on the country.
- Risk-taking investors who believe in buying growth-oriented companies can look to invest in lesser-known mining stocks like Vast Resource, Phoenix Copper, Oriole Resource.
Base and precious metals are basic industrial raw materials that are needed to make many other products. Hence, the stability of metal prices is very crucial for the economy as an exponential rise in metal prices disturb the demand-supply balance and lead to the price rise of many other commodities.
Consistent high metal prices in the international market put inflationary pressure on the countries. However, the companies that mines and extracts these metals are benefited from higher metal prices as their revenues and profit margins are linked to metal price.
Risk-taking investors who believe in buying growth-oriented companies can invest in lesser-known mining stocks like Vast Resource, Phoenix Copper, Oriole Resource among many. Most of these new mining companies are currently carrying out drilling activities at their various project site. If they discover any breakthrough metal reserve, it will definitely have a positive impact on revenue and benefit its share price.
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Let us explore three FTSE listed metal and mining stocks that are in focus today:
Oriole Resource Plc (LON:ORR)
The company is engaged in the exploration of gold and other metals. Its mining projects are located in Turkey, East and West Africa.
In its recent update, the company announced that it had identified multiple gold targets at its 90% owned mining project located in Central Cameroon. The initial estimate shows a strong presence of gold at the site, with 26 samples grading above 10ppb of gold and six samples having above 50ppb of gold. In addition, the company has identified 18 targets for the further drilling program.
Oriole Resource Plc currently trades at GBX 0.41 on 29 October 2021 at 8:15 am GMT+1 with a market cap of £8.08 million.
Vast Resource Plc (LON:VAST)
The company does the exploration and production of various metals like copper, lead, gold, diamond. Its flagship mining project is located in Romania and Zimbabwe.
The company raised gross proceeds of £1,350,000 by placing 54 million ordinary shares at 2.5p per share on 28 October 2021. It plans to use the net proceeds for the working capital requirement. The company has a positive outlook for the current financial year and expects to generate higher volumes and revenues.
Vast Resource Plc currently trades at GBX 2.55, down by 5.20% on 29 October 2021 at 8:15 am GMT+1 with a market cap of £6.48 million.
Phoenix Copper Ltd (LON: PXC)
The company has operations across the diversified base and precious metals. It extracts and produces metals like lead, copper, gold, and silver. Its mining projects are located in the North American region.
The company reported a profit of USD 235,467, and its net assets increased to USD 37.70 million during the first six months of 2021. Also, the company has recently acquired royalty and mining claims of the Empire mine project in Idaho, USA. The Empire mine project is crucial for the company’s revenue. As per initial estimates, the company has forecasted gross revenue of USD 836 million over the 10-year project life.
Phoenix Copper Ltd currently trades at GBX 70.38, up by 1.26% on 28 October 2021 at 8:15 am GMT+1 with a market cap of £80.84 million
