Here’s what is happening in the resources sector today

The Avz Minerals Ltd (ASX:AVZ) share price is one of many on the move in the resources sector today. Here’s what you need to know…

| More on:
miners in front of mining truck ASX mining stocks boom

Credit: iStock

The resources sector is one of the biggest and most important sectors on the Australian share market.

Due to its size it can be very hard to keep up to date with what is going on in the sector on a daily basis.

So to give investors a hand, I thought I would give a quick summary of the things you might have missed.

Avz Minerals Ltd (ASX: AVZ)

Despite being included in the All Ordinaries (Index: ^AXAO) (ASX: XAO) at the March rebalance, the lithium-focused mineral exploration company’s shares have tumbled 4% lower. Earlier this week AVZ Minerals signed a memorandum of understanding with Guangzhou Tinci Materials Technology for a potential investment in the company and off-take opportunities from the Manono Lithium Project.

BCI Minerals Ltd (ASX: BCI)

This afternoon BCI Minerals announced that it has contracted Core Drilling Services for an upcoming major drilling program at the Kumina Tenements of its Buckland Iron Ore Project. Management advised that it has identified multiple higher grade Kumina iron ore targets to support the Buckland Project development case.

Blackham Resources Ltd (ASX: BLK)

This gold miner’s shares have continued to surge higher following the release of its latest operational update. On Thursday Blackham advised that it achieved record monthly gold production of 6,713 ounces during February and a lowly all-in sustaining cost of A$912 per ounce. During the month, the average realised gold price was A$1,670 per ounce.

Clean TeQ Holdings Limited (ASX: CLQ)

This morning Clean TeQ announced that it has successfully completed its $150 million institutional placement. These funds, which were raised at $1.15 per share, will be used to support the accelerated development of the Clean TeQ Sunrise Nickel/Cobalt/Scandium Project. This could make the now well-funded Clean TeQ worth a closer look in my opinion.

Ramelius Resources Limited (ASX: RMS)

This morning the gold miner provided the market with an update on its resource development and exploration drilling program at its Edna May and Mt Magnet gold operations in Western Australia. Drilling results at Edna May have been very encouraging according to the release and Mt Magnet drilling has revealed “highly encouraging gold intersections.”

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ⏸️ Investing