Resources & Energy Group and WA Resources excited their investors this morning

Nick Sundich Nick Sundich, June 5, 2023

There were two resources companies that excited investors on Monday – Resources & Energy Group (ASX:REZ) and WA1 Resources (ASX:WA1). Both companies unveiled solid exploration results – but is this really a new beginning?

 

Do you need solid trading & investment ideas on ASX?

 

Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
With price targets, buy ranges, stop loss levels and Sell alerts too.

 

GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY

 

Resources & Energy Group has more than doubled…

…but is this deja vu? This explorer has been listed since 2005 and has been up and down over that time. It went from 2.2c to 9.8c in just 3 months during 2020 due to gold exploration results at the Gigante Grande prospect in WA. But it hasn’t seen those highs again as sentiment towards gold companies cooled.

This morning, the shares more than doubled after telling shareholders of its first results from its new drilling campaign at its Springfield prospect (also in WA). Key results included an interval of 8m @ 0.64% nickel within a broader interval of 17m @ 0.4% nickel.

Shareholders are excited because this reads well with electro magnetic exploration is conducted last year that suggested there was solid nickel mineralisation. They are also optimistic more is to come because further assay results are pending.

 

Resources & Energy (ASX:REZ) share price chart, log scale (Source: TradingView)

 

WA1 Resources

Although this company “only” rose by 38% today, its long-term growth record is second to none. Having listed at just 20c per share in February 2022, it is over $6 now.

 

WA1 Resources (ASX:WA1) share price chart, log scale (Source: TradingView)

 

It had a business model of being a project generator, owning multiple projects with the intent of selling them off before mining having grown the resource at those projects. This is similar to Chalice’s (ASX:CHN) model before discovering Julimar.

Today it unveiled its latest results from its West Arunta project which is prospective for Niobium and other rare earths. Results included 42m at 2.7% Niobium including 10m at 8.3% as well as 40m at 1.1% including 8m at 3%.

 

Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!

 

With price targets, buy ranges, stop loss levels and Sell alerts too.

 

GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY

 

There’s no credit card needed – the trial will expire automatically.

 

 

Recent Posts

johns lyng group

Johns Lyng Group (ASX:JLG): One of a few ways to profit from climate change

Johns Lyng Group (ASX:JLG) is a restoration services company, repairing properties after damage by insured events, including weather and other…

hydrogen in australia

Hydrogen in Australia: Can we expect massive adoption in the next 10 years?

When will we see hydrogen in Australia? Not as a fad, not as an idea, but as a widespread energy…

Why is Gina Rinehart buying into Lynas

Why is Gina Rinehart buying into Lynas? She’s accumulated a stake worth over $300m

The big question on many investors’ minds this week is why is Gina Rinehart buying into Lynas? A substantial notice…