Penny stocks offer unique opportunities for investors seeking growth potential apart from quick gains sometimes. However, the gains potential is also fraught with risk. The investors, even after screening Penny Stocks List with the help of trends and potential market movements should take informed decisions. Many ASX Penny Stocks on their retracement path become poised for significant gains, as their growth potential is already known.
Penny Stocks to watch :-
Latin Resources Limited (ASX: LRS)
Latin Resources Limited released its March 2024 quarterly report on 26 April 2024, unveiling significant developments in its operations.
High-grade assay results from SADD223 confirmed the third major spodumene discovery, named Planalto, at the Salinas Lithium Project. Notable intercepts included 9.25m @ 1.21% Li2O from 395.29m and 16.14m @ 1.29% Li2O from 425.00m, with a particularly noteworthy sub-intercept of 7.14m @ 1.63% Li2O from 434.00m.
It received multiple high-grade assay results from the Colina Deposit resource definition drilling program. SADD246 returned one of the largest intersections recorded at the Salinas Project, with 32.92m @ 1.62% Li2O from 325.19m.
In March 2024, Latin Resources submitted five Mining License applications to Brazil’s National Agency of Mining (ANM). These applications followed the Environmental License application submitted in December 2023, which included the Environmental Impact Assessment and Environmental Impact Report (EIA-RIMA).
Latin Resources expanded its presence by opening an office in Singapore's Marina Bay Financial Centre. This move aims to engage with potential offtake and project finance partners. The company has received strong interest from Singapore and other countries in the region, prompting the appointment of a dedicated team to pursue these opportunities.
As of 31 March 2024, Latin Resources reported $39.0 million in cash at the bank and $2.2 million in investments, indicating a stable financial position to support ongoing operations and expansion initiatives.
Latin’s flagship lithium project presents a compelling commercial opportunity, underpinned by a substantial Mineral Resource Estimate (MRE) of 70.3Mt @ 1.27% of Li2O at the Colina and Fog’s Block Deposits. The company plans to develop a standalone 3.6Mtpa mining operation, demonstrating robust sales and supply capabilities. The year 2024 is expected to be highly pivotal for the company, with significant milestones anticipated.
Falcon Metals Limited (ASX: FAL)
Falcon Metals Limited recently announced the results of a ground Moving Loop Electromagnetic (MLEM) survey at its 100%-owned Mt Jackson Project, located 110 kilometers north of Southern Cross in Western Australia. The survey identified multiple conductors deemed prospective for nickel-copper sulphide mineralization. These conductors align with nickel, copper, and PGM soil anomalies associated with interpreted ultramafic rocks, enhancing their prospectivity. Notably, a southern cluster of three high-conductance, late-time anomalies (>10,000 Siemens), each up to 260 meters long, is interpreted to be potential massive sulphides.
Falcon Metals also announced the results from a 91-hole aircore drilling program at its Farrelly Mineral Sands Prospect in Victoria. The findings confirm the Farrelly Prospect as a high-grade mineral sands discovery, with a thick zone of mineralization (Main Zone) now defined over an area approximately 1,200 meters by 600 meters, which remains open in several directions.
On 24 May 2024, the company reported entering into an Option Agreement with Providence Gold and Minerals Pty Ltd (PGM) to acquire a 100% interest in a portion of the Macorna Gold Project on permit EL006549, located 90 kilometers north of Bendigo and 30 kilometers north of the Catalyst Metals (ASX: CYL) Four Eagles Gold Project.
Falcon Metals maintains a strong cash position of $13.7 million as of 31 March 2024.
Each of the company's promising projects boasts a distinct advantage. Notably, the Farrelly Mineral Sands Prospect reveals a shallow yet high-grade discovery, highlighting potentially attractive economic prospects for the company with the potential for easy mining and high-quality production. Furthermore, the Pyramid Hill Project features an extensive exploration base, with over 200,000 meters of aircore drilling completed and numerous highly promising high-grade gold targets already identified.
Falcon presents an early investment opportunity for investors to capitalize on the progress of these highly promising projects, offering bankable commercial prospects in the gold and mineral sands sectors.
Source: Company's Report
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