Winners and Losers: Micro-cap miners continue to rise
In a week when the ASX200 hit record highs, emerging companies climbed by 5 per cent, driven by micro-cap mining, of which SA has plenty.
Smaller mining firms rode a wave of interest over the trading week, particularly micro-cap miners digging up gold, lithium and rare earth metals.
Papyrus was the big Winner, though, after an August 4 capital raise, beating out Barton Gold, which enjoyed the higher gold prices and announced some company-specific news about tenements.
Beach Energy rebounded from a 16 per cent slide last week, climbing by 11 per cent.
While not in the top Winners list, Codan rose 9 per cent, benefiting from a rise in gold prices and a surge in defence-related stocks.
Resolution Minerals was one of the biggest Losers of the week, falling 25 per cent despite some interesting news about an unsolicited offer for its newly acquired Horse Heaven mining project in the United States.
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Last week’s rally on Power Minerals was essentially reversed, with stocks crashing 23 per cent on Monday alone.
Vintage Energy was the biggest Loser, though, down 27.27 per cent in the week and by 50 per cent over the year.
The full list of Winners and Losers for the week ended August 8:
Data via Baker Young Limited analysts.
