Top 5 Resources: PLG, SUM, and ASX newcomer RAU see widespread gains in rare earths market

The local stock exchange was filled with excitement on Friday as Resouro Strategic Metals (ASX:RAU) made a solid entrance, gaining 26% in early trade. The Canadian-based rare earths explorer and development company focused on projects in Brazil, including the Tiros Project and gold projects, successfully launched on the ASX following a $8 million IPO.

But Resouro wasn’t the only one making waves. Pearl Gull Iron, a tiny explorer, saw a more than 60% gain after announcing a farm-in to an early stage clay rare earths project in Chile. This strategic move will strengthen its asset portfolio while maintaining focus on its existing iron ore project.

Meanwhile, Tempus Resources completed the acquisition of the Prescott copper and base metals project in Canada, sending its shares soaring by 25%. The project covers a vast area and has strong potential to host a sedimentary-hosted copper deposit or zinc-lead deposit.

On the other hand, Silver explorer SS1, a recent entrant to the ASX, saw double-digit gains thanks to a drilling contract awarded for its Maverick Springs silver project in Nevada. The company is set to start its first drilling program at the project in the upcoming weeks.

Summit Minerals (SUM) continues its impressive run, with the stock up about 164% over the past month. The company’s Equador project in Brazil has confirmed high-grade niobium and tantalum, further highlighting its potential in the region.

Overall, these resource winners are making strong moves in the market, attracting investors and shareholders with their promising projects and strategic acquisitions. The bourse is certainly emitting loud “REE!” sounds as these companies continue to make impressive strides in the resource sector.