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Just scrolling through the ASX this morning and noticed something interesting from last week's trading - some of the australian mining stocks really had a solid run. Thought I'd jot down what caught my attention.
Killi Resources absolutely popped off with a 265% weekly gain. The Perth-based gold and copper explorer brought in some serious firepower with Nev Power (ex-Fortescue CEO) joining as non-exec chair, plus a couple of other industry names as consultants. They also locked in AU$1.4 million in funding and got approval for a Queensland government exploration grant. Shares went from AU$0.052 to AU$0.19 by week's end - that's the kind of move that gets people talking.
EMC Gold wasn't far behind at 66.67% gains. They're working on this massive undeveloped gold project in Spain - Salave - which is supposed to pump out nearly 100k ounces annually once it gets going. Spanish court recently backed their suspension as lawful, so they're pushing ahead with admin work and shareholder building.
Athena Resources also hit 66.67%, though they started from a lower base at AU$0.003. They announced a joint venture on their magnetite project with two partners handling the capital side. Pretty smart structure if you ask me - keeps ownership but gets the heavy lifting done by others.
Volt Resources climbed 40% on the back of their graphite operations updates. They've got assets across Tanzania, Ukraine and the US, with that massive Bunyu deposit in Tanzania being the crown jewel. Completed another production run at their Ukrainian operation too.
Rounding out the top australian mining stocks was SQX Resources up 37%. Gold explorer with projects in Arizona and Montana released some solid sampling assays from Red Bird showing strong grade continuity. Maiden drilling wrapped up, so now it's about waiting for the full assay results.
Whole sector seemed to have tailwinds that week with gold and silver both posting decent gains. Nothing revolutionary, but if you're watching the resources space, these moves are worth noting for your watchlist.