Gold explorers Millennium Minerals, Mutiny Gold and ABM Resources spike higher on the ASX

Investors are jumping back into ASX listed near term producers and explorers today, particularly stocks which have recently delivered a strong news flow to the market.

Around noon Sydney time, near term gold producer Millennium Minerals (ASX: MOY) is 9.5% stronger to $0.023 on massive volume of over 13 million shares.

Millennium is understandably well on the investor radar, with the company in late 2011 delivering an outstanding result from the Nullagine Gold Project in Western Australia, with the company boosting gold reserves by 174,000 ounces, or 31% to 741,000 ounces.

Mutiny Gold (ASX: MYG), another near term gold producer, is trading 4.8% stronger at $0.088 - as the company continues to progress the highly prospective Gullewa Gold Project forward, which hosts the Deflector gold copper deposit, and the sleeper Spanish Galleon.

Mutiny has already delivered a resource of 3.4 million tonnes at 4.9g/t gold for 530,000 gold ounces, 0.85% copper for 29,000 tonnes and 5.7g/t silver for 620,000 ounces from Deflector - with a Definitive Feasibility Study currently underway.

ABM Resources (ASX: ABU) has lifted 5% to $0.063 on volume of 6 million shares, with the company recently delivering some bumper gold results including up to a peak of 215g/t gold grade at Old Pirate last week, which forms part of the Twin Bonanza Gold Camp Project in the Northern Territory.

ABM's most recent results build on the phase 1 and 2 trenching programs, with the three phases combined equalling a total strike length of 582 metres and a weighted average of 23.98g/t gold.

It’s not just gold stocks heating up the ASX today, with Peninsula Energy (ASX: PEN) up 13.2% to $0.043, with the company on the road to uranium production after recently completing feasibility and economic studies of its Ross and Lance uranium projects in Wyoming.

Importantly for Peninsula, the results should enable the company to gain project funding and become a uranium producer in 2013.

South Boulder Mines (ASX: STB) has climbed 5.7% to $1.29 has investors applaud the strong progress being made towards the completion of a Definitive Feasibility Study for the development of its Colluli Potash Deposit.

South Boulder currently has all key technical activities to complete the study in 2013 underway or set to begin in the near term pending approvals.

Aurium Resources (ASX: AGU) has jumped 13.6% to $0.025 with joint venture partner Padbury Resources (ASX: PDY) gaining 8.3% to $0.013, as the companies continues to target early cash flows at the Peak Hill Iron Project joint venture.

Aurium and Padbury have a direct shipping ore exploration target of 20-28 million tonnes at 55-60% iron at the Mt Padbury Prospect.

Peak Hill currently hosts an Inferred JORC Resource of 850 million tonnes at 27.3% iron, which was defined from less than a half of the 10 kilometre strike length – indicating a strong chance of a resource upgrade in the near future.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24212/gold-explorers-millennium-minerals-mutiny-gold-and-abm-resources-spike-higher-on-the-asx-24212.html