Are These Mining Penny Stocks On Your August Watchlist?
The market for mining penny stocks has grown a lot in the last year and a half. The Securities & Exchange Commission (SEC) defines a penny stock as shares of a company trading below $5 per share. When the pandemic started, all types of mining stocks began to soar in value as material prices rose. This includes mining penny stocks, many of which were able to escape the under $5 per share range in the last year and a half.
Penny stocks are generally very highly volatile and risky assets. If you do proper research, it can help mitigate some of the risk that comes with these assets. If enough research is done there is a lot of potentials to make money with mining penny stocks. Looking at the latest company news, sector news, and what’s going on in the world can be very useful. Sure, these seem like simple steps on the surface, but they are very essential.
There are many different sectors in the mining industry that one can invest in. Most commonly traded are gold stocks and silver stocks. For those who do not want to physically hold these metals but still invest, these stocks offer an alternative. There is also uranium, steel, copper, and lithium among many other mining sectors. Keeping all of this in mind, let’s take a look at three mining penny stocks that have potential in the market.
Mining Penny Stocks To Watch
- Almaden Minerals Ltd. (NYSE: AAU)
- Gold Standard Ventures Corp. (NYSE: GSV)
- Tanzanian Gold Corporation (NYSE: TRX)
Almaden Minerals Ltd. (NYSE: AAU)
Almaden Minerals is an exploration stage company that acquires, explores, and develops various mineral properties. This company actively searches for gold, silver, and copper deposits in these locations. The company owns 7,200 hectares, 100% interest, of the Ixtaca (Tuligtic) project in Mexico.
On July 27th, the company started its prospect drilling at its Ixtaca project. Chairman J. Duane Poliquin said, “The original Ixtaca discovery was made through clever geologic assembly of published information and on-the-ground observation of field data. This has resulted in the discovery of an economic gold-silver deposit as outlined in the Feasibility Study, with evidence (geologic, geochemical, geophysical) for the possibility of a similar deposit, as well as the possibility of deeper precious/base metal deposit(s).”
The company has stated that all of the work in this program will be conducted while following COVID-19 safety protocols. The drilling will be done in phases, initially focusing on targets established at the southeast alteration zone at the project. Keeping this new information in mind, will you add AAU to your mining penny stock watchlist?
Gold Standard Ventures Corp. (NYSE: GSV)
Gold Standard Ventures is an exploration-based company that acquires and explores gold mineral resource properties located in Nevada. The company’s main property is the Railroad-Pinion project that covers 53,569 gross acres of land in Nevada. The company also has a 100% right in many other mining claims such as the Lewis Gold Project.
On August 3rd, the company provided an update on its exploration. CEO and President Jason Attew said, “Drilling at the POD and Sweet Hollow oxide gold deposits expanded known mineralization, accomplishing a key objective of the drilling program. This area, along with Jasperoid Wash and LT, showcase the potential for future satellite pits to the South Railroad Project.”
The company’s future drilling will continue to focus on expanding its oxide resource base. It will be very interesting to see how its current advancements will affect the company’s stock price. For now, is GSV stock a contender for your watchlist in August?
Tanzanian Gold Corporation (NYSE: TRX)
Tanzanian Gold Corporation, also known as TanGold, explores and develops mineral properties in the United Republic of Tanzania. Its primary objective is to explore for gold deposits. It has an interest in the Buckreef gold project, Kigosi project, and the Itetemia gold project.
The company released its results for the third quarter of 2021 on July 15th, 2021. It announced new discoveries, its cash flow generated, management changed, and much more. CEO Stephen Mullowney said, “The Company and Buckreef Gold have continued to make significant progress this quarter. We developed and are actively implementing a plan to mitigate the cash burn at the Buckreef Gold operating level through an upgrade of the oxide test plant circuit.” Keeping this information in mind, is this a mining penny stock for your watchlist?
Mining Penny Stocks In August 2021
Mining penny stocks are in a rather volatile position in the market right now. There are many inflation fears right now, and nobody knows how this is going to affect mining stocks. Additionally, the pandemic still has a large impact on the market overall, especially mining penny stocks. For now, which mining penny stocks will make your watchlist this month?
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