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These small cap ASX shares are storming higher today

The local market may be following the lead of international markets by drifting lower on Tuesday, but not all shares are in the red.

Three small caps that have made notable gains today are listed below. Here’s why they are on the rise:

The Beadell Resources Ltd (ASX: BDR) share price has stormed 8.5% to 5.1 cents after the gold miner provided an update on its exploration strategy. According to the release, Beadell’s refocused exploration strategy will be driven by systematic and disciplined capital allocation decisions aimed at reserve replacement, extending the life of mine, expanding near-term cash flow, and increasing the net present value of its Tucano operation. The market appears pleased with this strategy and investors have been scrambling to pick up shares today.

The De Grey Mining Limited (ASX: DEG) share price has surged 10% higher to 16.5 cents after Novo Resources Corp of Canada announced plans to acquire Farno McMahon. De Grey is a joint venture partner and shareholder of Farno, which is the owner of four key tenements, including tenement E47/2502, in the Egina region of Western Australia. Tenement E47/2502 is a highly prospective gold tenement that De Grey can earn 75% of through expenditure of $4 million over 4 years. Management expects to have a good ongoing working relationship with Novo on this tenement.

The St George Mining Ltd (ASX: SGQ) share price has jumped almost 8.5% to 13 cents after announcing more strong drilling results at its Mt Alexander operation. Assays for the MAD108 drill hole at its Investigators site confirm a wide intercept of high-grade nickel-copper-cobalt-PGEs. In addition to this, the MAD117 hole has intersected further massive nickel-copper sulphides at Investigators East. Joint venture partner Western Areas Ltd (ASX: WSA) has also seen its shares rise strongly today. The nickel producer’s shares are up 4.5% to $2.50 at lunch.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

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.

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