Why these 3 small-cap resource stocks are storming the All Ords today

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The All Ordinaries Index is 19 points or 0.3% higher at 6288.5 points on Wednesday morning, boosted by a lift in the heavyweight mining sector and improved copper and iron ore prices.

These small-cap resource shares have also stormed higher this morning.

Argosy Minerals Limited

The Argosy Minerals Limited (ASX: AGY) share price has jumped 4.26% higher to 25 cents.

The company announced this morning the successful meeting of Argosy and Puna Mining executives with the President of Argentina, Mauricio Macri, and the Federal Mining Secretary, Diana Carolina Sanchez, in Buenos Aires, to discuss the status and plans to progress its flagship Rincon Lithium Project.

Argosy last week announced that it had achieved a successful and scalable chemical process solution to produce ‘battery quality’ lithium carbonate (LCE) product, achieving a battery quality LCE Product with a 99.8% Li2CO3 content value.

Argosy Minerals has a market capitalisation of around $222 million. AGY shares have fallen 7.69% since the beginning of 2018.

New Century Resources Ltd

The New Century Resources Ltd (ASX: NCZ) share price has jumped 4.04% higher to $1.03 after announcing this morning that stockpiling of zinc concentrate has been initiated at its concentrate storage shed at the Karumba Port.

The successful dewatering, filtering and stockpiling of saleable concentrate at Karumba allows the company to receive revenue from sales of concentrate in the September quarter of 2018, and New Century says it remains on track for the first shipment of concentrate in Q4 2018.

New Century Resources has a market capitalisation of around $499 million. NCZ shares have fallen 22.35% since the beginning of 2018.

Avz Minerals Ltd

The Avz Minerals Ltd (ASX: AVZ) share price has risen 2.15% higher to 9.5 cents.

The company reported this morning that it has received further high-grade results from its Mineral Resource drilling at the Manono Lithium Project in the Democratic Republic of Congo.

AVZ said its infill drilling is expected to be completed late in November, with an update to the Mineral Resource Estimate for Manono due before the end of the year

Avz Minerals has a market capitalisation of around $179 million. AVZ shares have fallen almost 59% since the beginning of 2018. 

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Contributors to this article may own shares in some of the companies mentioned in this article. The Capital Club has a thorough disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
Lauren Surplice is a keen follower of the stock market, investing in individual companies and funds. She follows the daily stock market news, covering the ASX stocks that are moving the markets. You can contact Lauren at laurens@thecapitalclub.com.au