Stocks of the Hour: Base Resources, Lanthanein Resources, Orion Minerals, Novonix
A snapshot of the stocks on the move, featuring Base Resources, Lanthanein Resources, Orion Minerals and Novonix.
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Orion Minerals is a globally diversified metal explorer and developer which is on track to become a new generation base metals producer through the development of its flagship Prieska Copper-Zinc Project in South Africa’s Areachap geological terrane, Northern Cape.
The highly prospective Areachap Terrane provides Orion with world-class exploration pipeline with its characteristic Volcanogenic Massive Sulphide (VMS) that contain copper-zinc and intrusive nickel-copper-cobalt-PGE (Platinum Group Elements) mineralisation but there has been virtually no exploration in the region for the past 20 to 30 years.
A snapshot of the stocks on the move, featuring Base Resources, Lanthanein Resources, Orion Minerals and Novonix.
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The BFS has confirmed Prieska’s potential to underpin a significant low-cost, copper and zinc development project, with exceptional opportunities for future growth. Based on BFS assumptions, the project will provide excellent financial returns for a relatively modest capital investment, given the scale of operations envisaged.
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Orion Minerals – (ASX: ORN, Share Price: $0.03, Market Cap: $57m, coverage initiated @ $0.027 in Oct 2015)
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Excitement is building around the expected release on Monday of the eagerly awaited assay results from the third hole drilled at Legend Mining’s (LEG) Area D prospect at its Rockford project in WA’s Fraser Range.
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We initiated coverage of ORN almost four years ago and we’ve witnessed the company’s steady progression, transitioning from grassroots explorer to emerging producer via the acquisition and subsequent advancement of its Areachap metal projects in South Africa’s Northern Cape.
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A closer look at Orion in this week’s diary is a worthwhile exercise because one company, which is listed on the Australian and Johannesburg stock exchanges, is a case study of South African mining and the drive to kick-start a small mining company culture in a country which has never had one.
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Orion Minerals – (ASX: ORN, Share Price: $0.037, Market Cap: $55m, coverage initiated @ $0.027 in Oct 2015 – current gain of 37%)
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Orion Minerals’ counter-cyclical gamble on the abandoned Prieska zinc-copper mine in South Africa’s remote Northern Cape province back in 2015 has come up trumps on three fronts.
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Orion Gold is a well-managed explorer with diverse commodity and project interests, incorporating the search for epithermal gold at its Connors Arc project in Queensland and nickel in WA’s Fraser Range province.
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