Will these mining penny stocks go up this month?
Last year, many mining penny stocks rallied to new record highs in the market. The fall of the dollar meant the rise of materials, as investors preferred to hold physical assets. The result was materials like gold and silver reaching new heights. Throughout 2021, mining stocks have had their fair share of ups and downs in the market. While they may not be at the highs achieved last year, there are many trending mining stocks in the market at the moment.
So what should you look out for when investing in mining stocks? Now you may be wondering, what should you look out for when investing in mining stocks? There are a few essential steps one can take to make sure it is the right time to invest in a company. The first and most obvious is to look at world news. Sector news is also very important, shortages and increased demand are good ways to evaluate the market. Looking at the volume of a company can help when investing in mining stocks too.
There are many other types of mining assets to invest in, not just gold stocks and silver stocks. For example, there are also lithium stocks. In the last year, these assets exploded in value because of electric vehicles’ usage of lithium-ion batteries. There are many other types of mining penny stocks as well, including copper, lead, uranium, and steel. Let’s look at some mining penny stocks that have seen some recent momentum in the market.
Top Mining Penny Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold is a precious metal producer that operates in various locations worldwide. These locations include Brazil, Canada, Chile, and Argentina. The company will actively explore for gold and silver ores. It has an interest in the Malartic mine, Cerro Moro mine, Minera Florida mine, and more.
A few months ago Yamana Gold announced that it was cutting its projected expenses to expand the Jacobina complex in northeastern Brazil. It expects to expand this complex by up to 74% after tests at its processing plant were better than initially expected. Because of this, Yamana plans to increase its annual production capacity at Jacobina from 180,000 ounces to 230,000 ounces of gold by the second half of 2023.
The company has stated that this plant can handle a workload of 8,500 tonnes of raw material per day. Chief Executive Peter Marrone noted that it was “much more efficient than we initially anticipated”. Now we await the next update from Yamana Gold to see where the company is at right now. With this info in mind, will AUY make your list of mining penny stocks to watch?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a mining penny stock we have mentioned on this site before. This is an exploration and development-focused uranium company. Its main project is the Wheeler River Uranium project located in the Athabasca Basin region in Saskatchewan, in which it holds a 95% interest in.
Last Week, Denison reported its decision to advance its Wheeler River project to the feasibility study stage. This study is for the In-Situ Recovery mining operation proposed for the Phoenix uranium deposit. It also announced that Wood PLC will lead and author the feasibility study in accordance with Canadian Securities National Instrument 43-101.
President and CEO David Cates said, “Taken together with the selection of globally recognized engineering firm Wood, the decision to launch the formal Feasibility Study process for Phoenix represents another important step towards achieving our objective of bringing low-cost ISR mining to the high-grade uranium deposits of the Athabasca Basin.” In the last month, DNN stock has gone up a lot in price. Now that you know this, will DNN make your mining penny stock watchlist?
Alexco Resource Corp. (NYSE: AXU)
Alexco Resource Corp. is a silver mining penny stock that we’ve mentioned here before. This is a company that owns and operates most of the Keno Hill Silver District in Canada’s Yukon Territory. This region is one of the highest-grade silver deposits in the world. Right now that company is expected to produce an average of 4.4 million ounces of silver per year contained in high-quality lead, silver, and zinc concentrates.
On September 7th, the company reported interim results from its ongoing drilling at the Bermingham Northeast Deep zone. The current 19,000-meter drill program targets more than 50 resource intercepts. The company’s 2021 exploration drilling program is approximately 80% complete.
Chairman and CEO Clynt Nauman said, “We are very encouraged by the initial results from the Bermingham Northeast Deep drilling, confirming the importance of this discovery both from an exploration and potentially, from an operations perspective. This zone of mineralization is shaping up to be within 200 meters of our currently planned underground ramp and haulage infrastructure.” On September 29th, AXU stock has a higher volume than its average. Will you add AXU stock to your watchlist in October?
Mining Penny Stocks
Penny stocks are often more risky and volatile than traditional blue-chip stocks. This can make the process of investing in mining penny stocks a bit more worrisome. Rest assured if you do proper research and pick your watchlist wisely, there is a lot of potential within these assets. So which mining penny stocks will make your list in October?
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