Market Wrap – ASX micro to mid-cap mining stocks
03 Nov 2014
Today’s best performer on ASX micro to mid-cap mining stocks was Mungana Goldmines Limited (ASX: MUX) up 52% to close at $0.16. The company recently acquired the Chillagoe zinc assets located in north Queensland for the consideration of two Secured Convertible Notes for $7.5m each. The company had $4.5m in cash at the end of the September 2014 quarter.
The worst performers of the day were Arunta Resources Limited (ASX: AJR) and Blina Minerals NL (ASX: BDI) both down 50% to close at $0.001.
Arunta Resources recently announced its Maiden Inferred Resource estimate of 225,066 tonnes at 0.58% WO3 calculated for surface stockpiles at its Hatches Creek Tungsten Project in the Northern Territory. The company had cash totalling $0.918m at the end of the September 2014 quarter.
Blina Minerals has renewed its 80% held Diakouli Gold Exploration Permit in eastern Burkina Faso for a further three years. The initial work completed by the company includes soil geochemistry and reinterpretation of regional airborne magnetic data with priority targets delineated for follow up work. As at 30 September 2014, the company had $0.961m in cash.
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