Taking out second place this week is NeuRizer, which enjoyed a price hike of more than 142 per cent from a previous close of 0.7c to touch 1.7c today.
Now, the silver medallist this week is a bit of a doozy and, to be honest, we were a bit unsure about whether to include it in this week’s list. The company’s share increase appears to be on the back of … well … not a lot, really.
NeuRizer says it aims to be Australia’s leading manufacturer of urea fertiliser with its namesake project in South Australia where it intends to initially produce 1 million tonnes per annum of product before increasing to 2 million tonnes.
But in terms of news flow, there didn’t appear to be anything of major significance to warrant the company’s significant price hike. There have been the usual suspects including trading halts, ceasing to be a substantial holder notices and applications for quotations of securities.
There was even the appointment of a new director late last month following a resignation from the board. However, NeuRizer turned over some big volumes during the week with more than 100 million shares changing hands in the past five days.
It would appear to suggest that while there may not be anything official from the company, something could well be in the works. This could be anything – and we don’t like to speculate here at Bulls N’ Bears – so perhaps this is truly going to be a case of the classic watch this space.
Taking out third place in this week’s Bulls N’ Bears runners list is Reach Resources, which enjoyed a 100 per cent share price hike from a previous close of 1.2c to touch 2.4c. The leap came off the back of the company’s successful search for the source of high-grade niobium sample results at its Wabli Creek project in Western Australia’s Gascoyne region.
Rock chip samples taken directly from bedrock at Reach Resources’ Wabli Creek project.
The company had previously highlighted historically-reported alluvial samples at the operation, with a peak grade of 32 per cent niobium oxide and 2.57 per cent total rare earth oxides (TREO). A recent geophysical data review also identified an oval-shaped magnetic intrusive that is believed be the source of niobium, yttrium and rare earths mineralisation at the site.
Follow-up samples have now confirmed the granitic pegmatite target as a primary source of mineralisation, with one in-situ assay delivering 17.65 per cent niobium oxide, 0.15 per cent yttrium oxide, 10.81 per cent tantalum oxide, 31.39 per cent titanium oxide and 0.37 per cent TREO.
A second sample chipped straight off the bedrock also returned impressive results at 13.22 per cent niobium oxide, 0.13 per cent yttrium oxide, 6.27 per cent tantalum oxide, 18.97 titanium oxide and 1.13 per cent TREO.
A total of 27 niobium, yttrium and rare earths targets have now been identified at Wabli Creek and they will be the major focus for ongoing exploration. To date, none of the targets have been drill-tested.
A major niobium drill hit was considered to be the catalyst for the remarkable success of WA1 Resources when it made a series of discoveries at its West Arunta project.
While Bulls N’ Bears is not suggesting Reach is going to immediately follow in WA1’s footsteps, it could be well worth keeping an eye on the company’s progress as it starts to finalise drill targets and mobilise the rig at Wabli Creek.
Just missing out on a podium finish this week is Pearl Gull Iron, which enjoyed a stock increase of more than 54 per cent to touch 3.4c from a previous close of 2.2c.
The share price jump coincides with the company’s plans to acquire Huemel Holdings, which in turn has signed a deal to earn-in to Chilean company NeoRe SpA – the holder of the La Marigen project in an area considered highly-prospective for ionic-adsorption clay-hosted rare earths.
So, essentially, Pearl Gull is looking to farm-in to a rare earths project in Chile.
La Marigen covers five tenements or tenement application areas covering about 22,800 hectares considered to be underexplored along the coast of Chile. Once the acquisition of Huemel is complete, Pearl Gull is planning to kick off an exploration program at the site in a bid to define a series of drill targets.
TSX-listed Aclara recently announced a 27.5 million-tonne measured and indicated resource at 2292 parts per million TREO to the south of La Marigen, in addition to commissioning a pilot plant to produce heavy rare earth concentrates from clays in the region. So, Pearl Gull could be on to something here.
We’ll finish off this week with a late, breaking footnote … Resouro Strategic Metals may be a rare earths hopeful worth watching after its debut on the ASX today. The company’s shares jumped from its listing price of 50c to an intraday trading high of 69c this morning – a leap of 38 per cent.
Resouro, which is starting its ASX journey by issuing $8 million worth of chess depository interests on the Australian market, is getting set to spin the drill bit at its 90 per cent-owned Tiros rare earths and titanium project in the busy Brazilian State of Minais Gerais, where others such as Meteoric Resources, Equinox Resources and Perpetual Resources are plying a similar trade.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au