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Highlights
- Premier African Minerals had raised funds worth £1 million at an issue price of 0.2 pence per share for the ongoing definitive feasibility study at the Zulu Lithium project
- Oriole Resources’ Senegal project is estimated to contain nearly 155,000 gold ounces.
The metals and mining sector plays a crucial role in the functioning of the economy, and during periods of high demand, it results in an increase in prices. Some of the factors boosting investor interest in AIM-listed mining stocks can be a rising level of confidence in the sector, growing investor perception of a bright future for the industry fundamentals, and a steady recovery outlook for key traded metals.
The mining industry is, however, cyclical, and the COVID-19 pandemic has undoubtedly shown that phenomena. The mining stocks prices were directly correlated with the pandemic severity, involving the beginning of the recovery phase. Nevertheless, it must be noted that these stocks may be associated with disadvantages such as uncertain market and import scenario.
Here we take a look at 2 AIM-listed stocks that investors can buy now. These stocks have given high returns to shareholders.
Premier African Minerals Limited (LON: PREM)
Premier African Minerals Limited is engaged in mining and natural resource development. Recently, on 17 August 2021, Premier African Minerals announced the raising of funds worth £1 million at an issue price of 0.2 pence per share for the ongoing definitive feasibility study at the Zulu Lithium project located in Zimbabwe. Recently, the company also announced the completion of a new underground Conceptual Mine Plan for RHA in partnership with technical assistance from Shango Solutions, Multotec Process Equipment and Bara Consulting,
Premier African Minerals reported a loss before and after tax of $1.334 million in 2020 (year ended 31 December 2020) compared to $1.439 million in 2019. In 2020, net funds raised through direct subscriptions from the issue of new shares was $2.343 million (2019: $1.984 million).
The shares of Premier African Minerals gave a year-to-date return of 269.04 per cent to shareholders, and its market capitalisation stood at £35.45 million as of 23 August 2021.
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Oriole Resources Plc (LON:ORR)
Oriole Resources is a mineral exploration company with operations focused on West Africa. The company’s joint venture partner IAMGOLD Corporation at its Senala project in Senegal, which has an option to earn an interest of 70 per cent by spending up to $8 million on the project, is currently in the fourth year of the earn-in and has completed over 80 per cent of a two-phase 11,000 metres exploration programme at Madina Bafé and Faré prospects in 2021.
The shares of Oriole Resources are currently trading at GBX 0.53, up by 10.53 per cent at 10:21 AM on 23 August 2021. Its Fare South prospect at the Senala project was estimated to contain nearly 155,000 gold ounces. Recently, the mining company also announced the completion of the mapping and stream sediment sampling programme for five licences of the Central Cameroon package.
The shares of Oriole Resources gave a return of 51.48 per cent to shareholders in the last one year, and its market capitalisation stood at £7.49 million as of 23 August 2021.
Conclusion:
Rising investor interest in AIM-listed metals and mining stocks can be attributed to the recovery of the sector post-COVID-19 and the reopening of the economy. This is driving several investors to add AIM mining stocks to their portfolios.
