ASX small cap miners have had a slow 2019, gaining only 1.5 percent and during April they actually declined by 1.75 percent.
Perhaps this can be attributed to the uncertainty of the mining sector, particularly coal, in the event of a change of government.
The market knew there would be an election held this year but in April it was called and the campaign has been underway.
But this has not stopped a handful of companies performing well.
Copper miner Valor Resources (ASX: VAL) was the top performer in April, tripling in value. Surprisingly, there was no news until their quarterly was released on April 23.
While Valor had already signed a Joint Venture Option Agreement with Rio Tinto back in January, they reminded the market of the deal and that drilling would commence in May.
West Australia oil and gas play Rey Resources (ASX: REY) also performed well in April. They started the month having purchased exploration permits in the Canning basin from Doray Minerals.
This month an Independent Resources Review endorsed the purchase, estimating Prospective Resources of 3.14 tonnes per cubic feet of recoverable gas.
The biggest gaining stock that had news was battery metals explorer Surefire Resources (ASX: SRN). It bought a West Australian vanadium project with an inferred mineral resource of 237Mt.
Top 15 ASX small cap mining and energy stocks
|Ticker||Name||Market Cap||Price (1-Apr)||Total Return April (%)||Total Return YTD
|VAL||VALOR RESOURCES LTD||$ 13,252,346.00||0.006||200||100|
|REY||REY RESOURCES LTD||$ 61,591,728.00||0.29||107||16|
|SUH||SOUTHERN HEMISPHERE MINING||$ 5,219,699.00||0.059||79||31|
|SI6||SIX SIGMA METALS LTD||$ 2,287,515.75||0.005||67||25|
|SRN||SUREFIRE RESOURCES NL||$ 2,515,768.25||0.005||67||-17|
|HCH||HOT CHILI LTD||$ 28,932,954.00||0.034||62||271|
|WKT||WALKABOUT RESOURCES LTD||$ 73,019,936.00||0.25||61||166|
|CZR||COZIRON RESOURCES LTD||$ 24,997,718.00||0.014||56||8|
|GRV||GREENVALE ENERGY LTD||$ 2,894,016.00||0.031||55||55|
|VKA||VIKING MINES LTD||$ 3,764,614.25||0.012||50||-33|
|LNY||LANEWAY RESOURCES LTD||$ 47,840,856.00||0.012||50||200|
|SBR||SABRE RESOURCES LTD||$ 2,441,841.75||0.006||50||-25|
|TOU||TLOU ENERGY LTD||$ 63,025,224.00||0.14||47||82|
|RMG||RMG LTD||$ 9,853,838.00||0.016||45||33|
|GLL||GALILEE ENERGY LTD||$ 117,353,264.00||0.565||43||-9.6|
While there were no new IPOs in April, two IPOs will happen in May. Mont Royal Resources will list on May 15 and Gold Tiger Resources on May 22.
This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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