BBX gets A from investors

By Staff reporter / June 08, 2017 / www.mining-journal.com / Article Link

BBX rose 78% last week and a further 52.9% this week, taking its share price to US$0.20, despite no further news since its announcement of successful results from its Tres Estados project on June 1.

In Australian terms, its share price of A$0.25 today is light years ahead of its price 12 months ago of A$0.02, making a one-year gain of 1,344.4%.

Unsurprisingly gold plays featured heavily in this week's list as the precious metal price hit a seven-month high on the spot market above US$1,294 an ounce yesterday as geopolitical concerns continue around the world.

Gold explorer Middle Island Resources (AU:MDI) was up 50% in a newsy week of project acquisition and drilling results.

The company signed an option to buy a neighbouring gold resource within 1km of its shuttered mill at Sandstone in Western Australia on Monday and has since announced drilling results from Sandstone, including 415.2m at 1.34g/t gold from its Two Mile Hill prospect.

An exception was Collerina Cobalt (AU:CLL) - previously Augur Resources - with its shares taking off after announcing on May 30 it had started drilling for the popular battery ingredient at its project in New South Wales.

Collerina rose 36.4% for the week as investors anticipate the results the RC programme, which aims to increase the size of the cobalt-nickel resource, identify areas of high-grade cobalt and delineate a potential aluminium resource.

Finally Hong Kong-listed Nan Nan Resources Enterprise (HK:1229), which has a number of coal interests, debuted on the list with a gain of 34.9% for the week on no news in months.

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