Fear or fortune? Bulls N’ Bears takes a look at some ASX-listed companies trading at sub-1c a share that are flying under the radar despite doing interesting things after Trump’s tariffs sent the market sharply south. Should they indicate fear or point to fortune? You be the judge.
With Trump’s tariffs sending the market sharply south and still hanging around like a bad smell, Bulls N’ Bears takes a look at 10 ASX-listed small cap resource stocks trading at 1 cent a share or below that are nonetheless still doing interesting things. Many are flying under the radar and are going virtually unnoticed by punters, but all have interesting projects.
With the ASX-listed small cap resources space doing it tough in the last year, the Trump Tariffs probably rubbed a bit of unneeded salt in their wounds but to quote the immortal words of investment guru Warren Buffet should we “be fearful when others are greedy and greedy only when others are fearful”.
With many small caps having expended a lot of energy and money chasing lithium and rare earths fortunes, the near collapse in prices for battery metals and critical minerals in the past two years has caused the bottom to almost fall out for the two former market darling sectors – at least for now.
Many have become trapped holding projects that are suddenly out of favour, snookering those needing further capital and others may have continued to work in the background on their project, or perhaps pivoted to something considered more interesting in these changing times.
The “elephant in the room”, however, is that many punters will dismiss stocks that are trading below 1c a share on the ASX. However, their conviction that a company trading cheaply couldn’t possibly be worth following or investing in may be something of a fallacy.
Today Bulls N’ Bears looks at 10 companies with potentially interesting assets that traded at or below 1c this month.
BMG RESOURCES (0.9c)
The sub-$10 million market capped junior goldie holds the 518,000-gold ounce Abercromby project, near Wiluna in Western Australia, that is grading 1.45 grams per tonne (g/t) on a granted mining lease.
Abercromby is in the same gold region as the 346,000 ounce Millrose gold deposit, sold by Strickland Metals to gold giant Northern Star for $61 million in 2023, at a time of much lower prices.
An added sweetener is that BMG holds the Bullabulling project, immediately adjacent to the eponymous multi-million-ounce gold project that was recently snapped up by Minerals 260 for $156.5M cash and $10M in company shares.
Shallow drilling at BMG’s Bullabulling project hit 2m at 18.1g/t and 4m going 10.2g/t gold, indicating its potential for significant mineralisation.
EV RESOURCES (0.5c)
The South American-focused explorer has a 70 per cent interest in the Parag project in Peru, a bulk-scale porphyry deposit with its copper-molybdenum-silver deposit beginning from surface.
Copper porphyry accounts for nearly 70 per cent of the world’s copper as it offers a huge scale of mineralisation.
EV Resources also holds 50 per cent of the drill-permitted Don Enrique copper-silver project in Peru that has several compelling targets and access to water, power, roads and labour from nearby towns.
The company also owns the Yanamina gold-silver project in the mining-friendly nation, which has a resource of 265,000 ounces of gold and 935,000 ounces of silver.
EV has also leapt into the antimony sector, acquiring the Coyote Creek antimony project in Utah, in the United States. The project includes a non-JORC resource of 12.7 million tonnes grading 0.79 per cent antimony.
Antimony became one of 2024’s big winners after prices for the metal increased significantly.
JAVELIN MINERALS (0.3c)
Javelin has two prospective gold projects near the famous WA gold mining town of Kalgoorlie at a time of roaring gold prices, with the yellow metal up almost 23 per cent this year.
The company has just begun a 3000-metre maiden drill program at its recently acquired Eureka gold project.
Eureka hosts a 112,000-ounce gold resource, plus it has additional known mineralisation from previous drilling programs sitting outside the resource area. Several stunning drill intervals outside the resource zone include 4m grading 135g/t gold and 3m at 48.75g/t gold.
Its Coogee gold project has an existing gold resource of 126,685 ounces and recent drill testing produced intervals outside the resource, comprising 5m at 14.22g/t gold from 143m, including 1m at an impressive 65g/t, and 10m going 4.55g/t gold from 91m.
The 10m hit confirmed gold extensions below the previously mined open pit.
MT RIDLEY MINES (0.3c)
Mt Ridley has its Mia clay-hosted rare earths project near Esperance, which contains 168 million tonnes at 1201 parts per million total rare earth oxides. The project is parked up at present awaiting better pricing incentives, before Mt Ridley looks to advance the project towards production.
The resource contains valuable magnet rare earth oxides totalling 25 per cent of the total rare earths within the resource, with some presence of the higher-value heavy rare earth elements terbium and dysprosium.
The company recently completed a rock chip reconnaissance program across its Weld Range West iron project, in WA’s Mid West region, where it unearthed five rock chip samples grading from 60 per cent to 62 per cent iron.
The samples from the southern end of the project displayed higher iron content. This sits in the western 20 per cent portion of the overall Weld Ranges ground owned by Mt Ridley.
The remaining 80 per cent stake in the Weld Ranges area have had substantial resources defined and are held by Sinosteel and Fenix Resources. No drilling programs have been conducted on Mt Ridley’s ground.
REEDY LAGOON CORPORATION (0.2c)
Reedy Lagoon holds the prospective Burracoppin gold project, in WA’s Central Wheatbelt region, where recent infill soil samples along the western margin of a target structure at its Windmills prospect produced elevated anomalous gold assays. The results link up nicely with previous anomalous gold in assays from adjacent sampling.
The 1000m structure appears to have a northeast strike, which is evident in geophysical data and extends the surface zone to a 1.5km strike length.
The company’s Burracoppin iron project comprises a magnetite deposit.
Management is focused on sourcing a joint venture partner to fund a drilling program to establish a mineral resource and develop the project. It plans to produce iron from mining the deposit and processing the ore into a concentrate suitable for smelting into an expected total of one million tonnes per annum of high-purity pig iron.
TITANIUM SANDS (0.6c)
The company has the Mannar heavy mineral project in Sri Lanka, for which the company is working through the necessary steps to obtain a mining licence.
It is currently engaged in environmental studies to meet the terms of reference required to complete an environmental impact assessment (EIA).
When the EIA is approved, the Sri Lankan Geological Survey and Mines Bureau will issue an industrial mining licence for the project.
Sri Lanka has mined heavy minerals for decades and titanium is in strong demand from paint and plastic manufacturers, the aerospace industry and is used in medical devices and jewellery.
ENRG ELEMENTS (0.1c)
ENRG holds the Agadez uranium project in the West African country of Niger. It recently secured a three-year extension to the three granted exploration permits stretching across 726 square kilometres that comprise its project ground.
A recent trenching program produced several impressive hits of uranium oxide.
The highest sample returned 58,396 parts per million (ppm) or 5.84 per cent uranium oxide and was accompanied by samples grading 46,805ppm (4.68 per cent), 41,902ppm (4.19 per cent) and 24,125ppm (2.41 per cent) uranium oxide.
The results are in addition to an existing inferred mineral resource of 31.2Mt at 315ppm for 21.5M pounds of uranium from surface to a depth of 37m.
Management says it is open to a potential divestment via an earn-in agreement or corporate transaction.
TRIANGLE ENERGY (0.5c)
Triangle has just spudded its prospective Becos-1 oil exploration well in WA’s Perth Basin.
The drill bit was targeting a fault-trapped rock layer called the Bookara Sandstone, with results from the drilling expected shortly.
Triangle owns 50 per cent of the project, along with operating the nearby Mt Horner production licence, which is surrounded by structurally similar prospects.
The company is also staking a claim for hydrocarbons in the United Kingdom’s offshore North Sea. It now holds a 50 per cent stake in four blocks hosting the Cragganmore gas field and 50 per cent in nine blocks in the Outer Moray Firth, an inlet of the North Sea.
TMK ENERGY (0.3c)
TMK is pumping out record gas production levels month-on-month at its Gurvantes XXXV coal seam gas project in southern Mongolia.
In March, the company produced its highest volume of gas to date with 10,000 cubic metres from its Pilot Well project. It has a series of its Lucky Fox wells up and running on site, aiming to reduce the reservoir pressure towards a critical desorption level.
Management is soon expecting to produce commercial rates of gas from the project, which has Mongolia’s biggest contingent resource (2C) of 1214 billion cubic feet (BCF) of natural gas. The project currently contains a 5300 BCF prospective resource across its total 8400-square-kilometre ground.
Coal seam gas is considered ideal as a “clean transition fuel” because it produces about half the carbon emissions produced by coal-generated electricity and burns cleaner than other fossil fuels.
ATOMOS (0.5c)
The tenth and final company is the only one not involved in the mineral space.
An innovative video technology company, Atomos develops versatile handheld video recorders and monitors. Its flagship Ninja device is designed to record directly into popular editing formats, such as Apple’s ProRes and Avid’s DNxHD platforms.
By decompressing data from memory size-restricted cameras onto the device users can transform low-resolution digital data into high-quality video files.
Atomos revealed a suite of new products and services at the recent NAB Trade Show in Las Vegas. The show is renowned as the ultimate event in the world of media, entertainment and technology and is a key focus point for entrepreneurs in the broadcasting, digital media and film sectors.
(Article is based on share prices as of April 8, 2025.)
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
