“The mere mention of mining exploration invokes images of rags to riches companies like Fortescue Metals Group Limited(ASX: FMG), Sandfire Resources NL(ASX: SFR) and Sirius Resources N.L.(ASX: SIR).
After three years exploring throughout Western Australia (WA) for mineral deposits, Sirius Resources was almost out of cash and drilling what they thought would be the company’s final exploration hole. As luck would have it, they finally struck gold, or nickel in this case – the Nova nickel deposit is expected to be one of the lowest cost nickel mines in the world! Sirius shares surged more than 5,000% in the following months and the $10 million penny exploration stock skyrocketed to a market capitalisation exceeding $1 billion...”
AVQ Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held